Thailand bucks the asset-backed trend
Despite efforts in Japan, Korea and Singapore, securitisation has yet to take off in other Asian markets. Thailand might be set to reverse this trend, but challenges remain in Indonesia, Malaysia and the Philippines, finds Alice Hales
In the Asian countries where securitisation has taken off - such as Japan, Korea and Singapore - asset-backed deals offer highly competitive funding and the ability to extend yield curves. For several years, optimistic dealmakers have suggested borrowers from less mature Asian markets - such as Indonesia, Malaysia, the Philippines and Thailand - could use the same techniques for similar gains. But consistent activity never really materialised, for one main reason: the availability of cheaper
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