Looming refinancing needs and investors’ hefty appetite for high-quality debt is prompting Gulf issuers to look at tapping local currency markets in Asia to raise capital, an executive at Standard Chartered said.
Deepak Kohli, head of capital markets for Middle East at the UK lender, said discussions were ongoing with clients for potential issuances in Asia, including the fledgling offshore yuan market in Hong Kong.
“Many of the local currency markets in Asia are becoming stronger and more open to issuers from outside the country. There’s an interest and we are obviously discussing with a lot of our clients,” Kohli said in an interview last week.
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