Japan raises ¥100bn with first public loan securitisation

Daiwa Securities SMBC Securities, Mistubishi UFJ Securities and Nikko Citigroup priced the first tranche of Japan’s public sector loan securitisation programme on Friday.

Series 1 FILP Master Trust 1st SPC, rated triple-A by Standard & Poor’s and R&I, raised ¥100bn ($937m) for the Japanese government, backed by loans originated under ...