HSBC is global but your should know the real deal behind the Hong Kong Shanghai Bank (HSBC). Recently two Arab investors bought heavily into HSBC wordwide:
HSBC Holding Plc expects to arrange the sale of as much as $3 billion in Islamic bonds in the Middle East in the third quarter, the bank’s head of Islamic finance in Saudi Arabia said on Sunday.
The sukuk, or bonds, would be sold for petroleum companies and utility firms such as Saudi Electricity Co., which said last week it would sell bonds to raise at least 2 billion riyals ($533.3 million) in 2007.
“We are expecting two to three transactions of international benchmark sizes,” said Hissam Kamal Hassan. “Issuers are both state-sponsored companies and private issuers.”
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