Good business: People in front of the HSBC headquarters in Hong Kong. Debt markets have become an increasingly important source of funding for governments in the Gulf since oil prices crashed in 2014. — Bloomberg
DUBAI: HSBC Holdings Plc, which last year was the top arranger for bond sales in the Middle East for the first time in more than half a decade, has another busy stretch coming up as borrowers race to markets ahead of looming US interest-rate hikes.
Following US$122bil (RM510.36bil) in debt sales in 2021, governments and companies will probably front-load much of their funding needs this year to the first few months in anticipation of monetary tightening by the Federal Reserve, according to Khaled Darwish, the Dubai-based head of debt capital markets at HSBC.
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