KSA debt capital marketbenefits to be discussed


Published — Sunday 7 April 2013

Last update 7 April 2013 4:16 am

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A forum by Standard & Poor’s, the world's major provider of independent credit risk research, analytics and benchmarks, will explore the role of rating agencies in supporting the development of Saudi Arabia’s debt capital markets. The event is set to take place in Riyadh on Tuesday (April 9).
It will discuss the opportunities and challenges of conventional and Islamic bond issuance in the context of key rating analytical, process and criteria developments. It is sponsored by the Capital Market Authority (CMA) of Saudi Arabia and the Institute of Banking (IOB), and supported by the Gulf Bond and Sukuk Association (GBSA),
The event is designed for CEOs, CFOs, treasurers, advisers, bankers, financial intermediaries and institutional investors.
Stuart Anderson, managing director and regional head, Middle East at Standard & Poor’s said: “The development of Saudi Arabia’s debt capital markets is playing an important role in the effective allocation of capital in supporting broad economic growth. Further development of debt capital markets, including greater sukuk issuance, is a key to supporting the Kingdom’s extensive investment plans and infrastructure projects. Against this background, we see the S&P Forum in Riyadh as an important event that will generate valuable insights on how ratings can support the growth of a deep and liquid debt capital market.”
He added: “Ratings greatly enhance the transparency and efficiency of debt capital markets, generating greater local, regional and global exposure for issuers, and contributing significantly to their development and diversification for the benefit of investors and financial market intermediaries.”
A panel of senior industry experts will discuss the Saudi funding environment and implications for balance sheet structuring. Panelists include senior executives from Saudi Basic Industries Corporation, Ernst & Young, JP Morgan and Al Bilad Investment Company.
Hugh Baxter, S&P’s vice president and global head of client business management, will speak on the relevance of ratings to the development of financial markets. Other S&P officials who will address the forum include Kai Stukenbrock and Andreas Kindahl, both senior directors, and Emmanuel Volland and David Anthony, both directors.

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