NBAD hire to develop bonds and sukuk in Asia

Kuala LumpurThe National Bank of Abu Dhabi (NBAD) has hired Wynce Low to originate, structure and distribute conventional and Islamic bonds in South-east Asia.

As head of debt origination and distribution South East Asia, Low will be based in Kuala Lumpur, Malaysia, a crucial market for Islamic bonds, or sukuk. He joins from HSBC, where he was head of debt capital markets in Malaysia.

The hire “adds significantly to our debt finance proposition and signals the seriousness of our intent to deliver Middle Eastern liquidity solutions to Asian borrowers”, says Andy Cairns, global head of debt origination and distribution at NBAD.

NBAD, which is seeking to build a reputation for Islamic fixed income, has already participated in some landmark transactions. Last year, the bank was joint book-runner for sukuk issues by the Hong Kong Special Administrative Region and by the UK, the first government issues by non-Islamic sovereigns.

NBAD has also participated in sukuk issues from the Islamic Development Bank, Government of Dubai, Agricultural Bank of China and Goldman Sachs.

©2015 funds global mena

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