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Kuwait City: KAMCO Investment Company, a leading investment company with one of the largest AUMs in the region, joined the Gulf Bond and Sukuk Association (GBSA) 3rd Gulf Debt Capital Market Summit held in Dubai, UAE as a platinum sponsor. Senior representatives from KAMCO participated in the exclusive, invite-only event as guest keynote speakers.
The 3rd Gulf Debt Capital Market Summit gathered numerous industry experts, investors, market regulators and government officials to debate and discuss various topics related to enhancing and supporting the GCC’s fixed income market. The conference witnessed a series of panel discussions covering the latest debt market performance and related regulations, 2020 outlook for Gulf credits, greening the Middle East’s bond market, and the power of technology in transforming the Sukuk capital market.
Omar Zaineddine, Head of Debt Capital Markets at KAMCO, who gave the keynote speech at the summit, said, “Our ongoing sponsorship and strategic partnership with GBSA is a testament to our commitment to support and grow the fixed income market in Kuwait and throughout the GCC region. As one of the leading investment companies and debt capital market bookrunners in the region, we strongly believe the necessity to partner and participate in such conferences, that are in line with our strategic objective to develop the overall ecosystem for fixed income investing in the region.”
During his keynote, Zaineddine said, “The GCC fixed income market continues its evolution, as demand in the fixed income asset class is continuing to witness reaffirming trends on all fronts and growing as compared with other asset classes available in the region. This is raised by regional governments targeting to finance budget deficits through borrowings. Moreover, we expect to see the introduction of more sophisticated debt instruments alongside existing fixed income offerings, backed by the support of regulators, investment banks and investors.”
“Going into 2020, issuers will continue to remain active in our view, as they look to take advantage of cheap funding. we do see an ongoing environment where increased international participation will continue for high quality credits in the region, as borrowers continue to tap the market. GCC borrowers will in our view try to capitalize on the combination of low rates and low credit spreads. We believe the chase for yield should continue to drive- international investors’ appetite for credits in the region, given its unique positioning as an Emerging Market play with a Developed Market credit profile.”
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