Market Chatter: HSBC May Have $400 Million Exposure to Struggling UAE Firm IFFCO

MT Newswires Live06-12 22:34

HSBC (HSBC) has roughly $400 million of exposure to IFFCO Group, a leading consumer goods company in the Middle East that has struggled for months to restructure about $2 billion in debt, Bloomberg reported Friday, citing people familiar with the matter.

HSBC is IFFCO's top creditor, the people reportedly said.

HSBC didn't immediately reply to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 92.09, Change: +1.37, Percent Change: +1.51

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