Courts notches up multi-jurisdiction first with new consumer finance ABS

Courts Asia, southeast Asia's largest electrical and furniture retailer, has put in place the first ever multi-jurisdiction, multi-currency and multi-seller securitisation programme in Asia ex-Japan. The underlying assets are installment loan receivables in Malaysian ringgit and Singapore dollars, and structuring adviser and sole lead HSBC hailed the $250m-equivalent deal as the first example of significant appetite for ABS in the two currencies outside the real estate sector.