A new securitisation market was born this week with the completion of Taiwan's first asset backed deal. Over a year after SG and the Industrial Bank of Taiwan (IBT) signed an agreement to help develop the country's ABS market, the resultant NT$3.59bn collateralised loan obligation finally reached the market this week. International bankers have long hoped that Taiwan would become the next Korea. It has a large, well developed domestic bond market, and a broad range of suitable asset classes.
February 28, 2003