ADS Securities has $13 bln of bond issues lined up in UAE and beyond: CEO
The Abu Dhabi firm has mandates to arrange bond issues worth $13 bln this year as govts and companies raise capital to cope with falling oil prices
Abu Dhabi financial firm ADS Securities has mandates to arrange bond issues worth $13 billion this year as governments and companies raise capital to cope with falling oil prices and a stuttering global economy, its chief executive said on Tuesday.
While governments, particularly in oil-producing countries, have begun to borrow from the international bond market to plug budget deficits, companies are also tapping debt markets to fund expansion.
“There are lot of issuances coming up in this region and beyond due to the drop in oil prices and restructuring in the UAE, Gulf and globally,” Philippe Ghanem told Reuters at a company event.
“We have lined up about $13 billion of issuances,” he said, declining to name the potential issuers but indicating that the various bond sales are expected to take place this year.
Privately owned ADS Secuties, which added investment banking and asset management to its portfolio in 2014, sees Saudi Arabia as a particularly lucrative opportunity in light of the kingdom's commitment to a major reform program that includes raising capital and attracting investment to reduce reliance on oil income.
The main focus of ADS remains foreign exchange, commodities and brokerage trading, with offices in London, Hong Kong and Singapore.
UAE will attend Doha oil producers meetingThe meeting in Qatar on April 17 will bring together oil producers Energy
UAE: Oil output freeze already in placeOil Minister Suhail Mazrouei insisted it made "no sense" to pump more crude Energy
Saudi Arabia and UAE non-oil sector ‘remains resilient’Report: Careful management and prudent preparation are required to weather potential headwinds facing markets regionally and globally Economy
UAE says oil price will force producers to freeze outputThe UAE's energy minister said oil prices will restrain investements in high-cost production Business