More kangaroo bond deals from Middle East banks in pipeline, says HSBC | The National:
"Middle East borrowers are increasingly weighing Australian-dollar bonds as they seek to tap one of the world’s biggest sources of pension funds, according to HSBC.
Three regional lenders including National Bank of Abu Dhabi sold A$1.05 billion (Dh3.61bn) of debt this year, known as Kangaroo bonds, compared with two sales in 2013 for A$475 million, according to data compiled by Bloomberg.
“We expect to see further transactions from Middle Eastern issuers,” Mustafa Aziz Ata, HSBC’s head of debt capital markets for the Middle East and North Africa, said this week. HSBC anticipates working on another three kangaroo-bond deals for clients in the region, he said, declining to identify the issuers."
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