Polaris launches Taiwan CBO
Polaris Securities has closed its first collateralised bond obligation (CBO) transaction in Taiwan worth NTD12.2 billion ($375 million). The deal comprises seven classes of trust certificates issued via a special-purpose trust established under the Financial Asset Securitisation Law. The five most senior classes, all due in 2013, are rated between AAA and BBB by Taiwan Ratings Corporation.
The underlying asset pool comprises 19 Taiwan dollar-denominated notes, nine Taiwan dollar fixed-rate bonds
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