Chinatrust's RMBS comes in from the cold

Lehman Brothers finally closes Chinatrust''s debut mortgage securitization.

Chinatrust Commercial Bank has finally launched its NT$5 billion $146 million mortgage securitization, 10 months after becoming the first to win regulatory approval. Since then two other residential mortgage-backed deals have closed while Chinatrust has sat on the sidelines.

But Chinatrust's deal, according to Patrick Kaye at arrangers Lehman Brothers, is a more significant transaction than the two earlier deals, from First Commercial and Taishin International, respectively arranged by Deutsche Bank and Citigroup. Both offered...

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