India – Housing and Urban Development Corp. (Hudco) has finally mandated advisors for its debut securitization, a deal that has so far been nearly a year in the making. Hudco appointed Citibank as lead adviser and ABN Amro JM Morgan Stanley as co-advisor, along with a consortium of domestic securities firms to distribute the securities.
Spain – The much anticipated development of Spain’s securitization market away from a predominately mortgage-backed market looks to be gathering pace, with the news that Banco Bilbao Vizcaya Argentina (BBVA) is working on only the second collateralized loan obligation out of Spain and the first CLO to be funded through the public bond market.
Japan – Slowly but surely, Japan’s biggest mortgage originator is gearing up for its debut mortgage-backed deal. The Government Housing Loan Corp. (GHLC) will issue a request for proposals from securities firms starting in April and select an arranger or lead manager for its inaugural MBS sometime before June, said sources in Tokyo.
Sri Lanka – The Sri Lankan government used its recent budget to chop the rate of stamp duty charged to transfers of assets into securitization SPVs or trusts from 2% to 0.5%, in what market pros in Columbo hope will be the first step in developing the local securitization market.
Brazil – Mining company Samarco Mineracao, which pioneered Brazil’s securitization efforts with a $67 million deal launched in 1995, is getting ready to launch a second transaction.
