HSBC is seeing mandates for Islamic bond issuance in 2011 that are above pre-crisis levels, with at least one more sukuk expected to come to market before mid-July, executives said yesterday.
Debt capital markets have experienced a resurgence in recent months, as the cost of borrowing came down and liquidity levels for Islamic bonds reached the highest level they have seen been in four or five years, Mohammed Dawood, managing director of global capital financing at HSBC told reporters.
“Our pipeline is very healthy, more healthy than 2007,” Dawood said. “We have seen a significant pickup in sukuk mandates.”
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