Paliburg completes first MBS

Paliburg raises much-needed finance with the completion of its first securitization deal.

Paliburg Holdings of Hong Kong has completed its first commercial mortgage backed securitization deal through the issue of HK$1.4 billion $181 million in securities. The deal was structured and lead arranged by SG with Ka Wah Capital as co-lead manager.

The deal will come as a great relief to Paliburg, its shareholders and creditors. The property and hotel company has been suffering from the downturn in Hong Kong's property market since 1998. In its most recent results issued...

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