World Peace Industrial, the Taiwanese semiconductor company, has confirmed yesterday that it will tap the country's embryonic securitization market later this year. SG and Industrial Bank of Taiwan, who recently completed the country's first ever ABS deal - a NT$3.65 billion $104.8 billion collateralized loan obligation - have been jointly mandated to arrange a NT$2 billion deal backed by World Peace's trade receivables.
The news should be well received by ABS practitioners as it is believed to be the first deal mandated by a firm in the corporate sector. Up until now the only entities that have announced their intention to do deals have been financial institutions, with residential mortgages and...
