HSBC Securities Services has extended its onshore issuer services business to the UAE and Egypt.
The business will provide operational and administrative support for corporate and institutions looking to issue bond and loan programmes by offering escrow services for M&A transactions as well as agency and account bank services for structured debt issuance.
The newly formed team will be headed by Pankaj Kaul, previously a member of the HSBC issuer services team in London, who has been appointed as regional head of issuer services for Mena and Turkey.
“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,” said Kaul.
The addition of Turkey and the UAE means that HSBC now provides issuer services in 15 countries. It is also planning to expand its Mena coverage to Bahrain, Oman, Kuwait and Qatar.
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