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Gulf GRE's bond sales set to recover early 2013: HSBC
- Middle East: Tuesday, December 11 - 2012 at 04:45
HSBC Holdings has said bond sales by government-related companies in the Gulf region will pick up at the start of 2013 to support more than $1trn in planned spending, Bloomberg has reported. There's reason to be "optimistic" for sales by government-related enterprises at the start of next year, said Georges Elhedery, head of global markets for the Middle East and North Africa at HSBC. "The first quarter of 2013 is going to be busy," he said. "It's difficult to see beyond that." The region's corporate borrowing costs tumbled more than emerging-market peers this year, boosting the allure of debt amid state plans to build airports, sports facilities, refineries and museums.
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