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Wednesday, 11 January 2017

The Man Who Helped Saudi Arabia Raise $17.5 Billion Is Leaving - Bloomberg

The Man Who Helped Saudi Arabia Raise $17.5 Billion Is Leaving - Bloomberg:
"The head of Saudi Arabia’s debt management office, who oversaw the kingdom’s $17.5 billion sovereign bond sale in October, is leaving to rejoin HSBC Holding Plc’s local unit, according to people with knowledge of the matter.

Fahad Al Saif, who was seconded to the Ministry of Finance in May, plans to return to Saudi British Bank as head of global banking and markets, the people said, asking not to be identified as the negotiations are private. Al Saif will also rejoin the board of HSBC Saudi Arabia Ltd., the British lender’s local investment banking unit, they said.

The Saudi government hired Al Saif to establish the debt management office as part of preparations for its debut international bond sale, which was a record for emerging markets. He was among government officials who met with investors on the roadshow for the debt sale. The kingdom is “very likely” to tap debt markets later this quarter with an Islamic bond, Finance Minister Mohammed Al-Jadaan told Bloomberg in December."

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