Standard Chartered Reviews Bond Mandates, Mideast CEO Says

Standard Chartered Plc (STAN) is reviewing a large number of bond mandates, of which some will go to market before the end of the year, according to Chris Papadopoulos, Chief Executive Officer for the Middle East.

Papadopoulos declined to specify how many bonds were being studied by the bank or might be sold.

The bank is eyeing the sukuk market and expects the pace of mergers and acquisitions in the region to be slow, he told reporters in Kuwait today.

Standard Chartered also doesn’t consider a single currency for the Gulf Cooperation Council countries as useful, Papadopoulos said during a speech earlier in the day.

The GCC includes Saudi Arabia, Kuwait, Qatar, Bahrain, the U.A.E. and Oman.

To contact the reporter on this story: Dahlia Kholaif in Kuwait at dkholaif@bloomberg.net

To contact the editors responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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