DUBAI, March 12: The Gulf Bond and Sukuk Association (GBSA), in partnership with KAMCO Investment Company and Dentons, held its third Kuwait Debt Capital Markets Conference at The Chairman’s Club in Kuwait. The invitation-only event gathered over 100 local and international market leaders as well as senior government officials.
Faisal Sarkhou, Chief Executive Officer, KAMCO Investment Company delivered the keynote address in which he stated, “As one of the leading debt capital market book runners in the region, we are proud to partner in this GBSA conference. 2017 was significant for debt capital markets in the GCC, as fixed income issuances saw one of the biggest jumps since the financial crisis. As USD yield curves are now established, we expect GCC corporate bond issuances in 2018 to pick up, mainly from the refinancing needs of corporates and banks, and in order to capture relatively lower rates in a rising interest rate environment. International participation for GCC bonds should pick up as well as global investors become more aware of the region’s unique value proposition, and more capabilities are developed within the region.”
Fawaz Abusneineh, Managing Director & Head of Capital Markets, First Abu Dhabi Bank’s, presented on project bonds and sukuk and reflcetd on the landmark Abu Dhabi Crude Oil Pipeline transaction.
Alex Roussos, Partner, Dentons led and expert panel on issuer and investor appetite for structured capital market products with Khalid Al Rukhayes, Senior Dealer Kuwait Finance House, Rani Selwanes, Managing Director, Head of Investment Banking, NBK Capital, Khaled Fouad, Chief Investment Officer, KAMCO Investment Company and Hossam Abdullah, Legal Counsel & Managing Partner, Al-Hossam Legal.
A second panel examined the local KD market was moderated by Omar Zaineddine, Senior Vice President, Head of Investment Banking, KAMCO Investment Company with panelists Alex Saleh Partner and Head of Office, Al Tamimi & Co, Declan Sawey, Group Treasurer, Kuwait Projects Company (KIPCO), Rasha Othman, Senior Vice President, Investment Banking, Kuwait Financial Centre “MARKAZ” and Yasmine Salamah Assistant General Manager, Corporate Banking, Al Ahli Bank of Kuwait.