HSBC hails taxi ABS

Bank tipped to self-manage synthetic HK$3 billion deal backed by taxi and public light bus loans.

According to rumours doing the rounds among Asian ABS bankers, HSBC will soon launch Asia's first ever securitization backed by taxi and public light bus loan receivables. FinanceAsia has heard from numerous sources that the bank will self-manage a HK$3 billion $384.7 million five-year deal that is likely to close within the next month.

It is understood that the deal was originally set for launch in February or March but got delayed due to the outbreak of SARS.

Aside from being the first of its type in terms of assets, the deal is also rumoured to be a synthetic issue - meaning that only the credit risk of...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222