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HSBC launches onshore issuer services in UAE and Egypt

HSBC launches onshore issuer services in UAE and Egypt

Cairo: HSBC has launched its onshore issuer services business in the United Arab Emirates and Egypt.

The team, which is part of HSBC Securities Services, helps corporates and institutions execute complex transactions by providing services such as operational and administrative support for bond and loan programmes, escrow services for M&A transactions, as well as agency and account bank services for structured debt issuance.

Pankaj Kaul has been appointed as regional head of issuer services for the Middle East, North Africa and Turkey (MENAT), reporting to the MENAT Head of HSBC Securities Services.

Mr Kaul was previously part of HSBC’s issuer services team in London.

“In today’s market, there is a strong desire to minimise counterparty risk and to obtain assurance that assets are secured, which is why we have responded by launching onshore issuer services in the region,” he said.

“With our deep roots in the region and global network, we are ideally placed to act as a trusted third-party custodian, enabling clients to complete their transactions as quickly and efficiently as possible.”

The newly-formed MENAT issuer services team can now provide capital markets clients with key services including escrows, account bank and security agent services.

The recent addition of UAE and Egypt to the HSBC network brings the number of countries the business operates in to 15.

The issuer services business plans to offer its services in other countries in the region, such as Bahrain, Oman, Kuwait and Qatar, as it expands its footprint. Source: Reuters

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