Bond sales from the six-nation Gulf Cooperation Council will remain “strong” as companies in these countries seek a substitute for declining lending from European banks, the regional head of Deutsche Bank AG (DBK), said.
The pipeline for bond sales in the GCC is “very, very strong and I think will remain” that way, Ashok Aram, chief executive officer for the Middle East and North Africa for the bank, said at a news conference in Dubai today.
The GCC region has “relied a lot on bank loans but bank loans are going to be more constrained” as European lenders reduce debt and seek to raise capital to comply with more stringent rules, he said.
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