While the final touches are still being put to the regulatory framework for asset backed securitization ABS in Taiwan, the two banks at the forefront of efforts to promote the ABS market are moving ahead with what will probably be the first deal to be done in the country.
The Industrial Bank of Taiwan IBT and SG last September signed a cooperation agreement to jointly develop the securitization market in Taiwan. At the time the agreement was announced, an IBT official told FinanceAsia that it was talking with SG about a possible collateralized loan obligation CLO backed by IBT originated receivables.
Four months on and IBT has confirmed that SG will arrange the CLO...
