Cagamas to sell Malaysia's biggest securitization

Government housing loan provider mandates StanChart for M$2 billion RMBS.

Malaysia's state mortgage company has hired three banks to arrange the country's biggest ever securitization. Cagamas says the deal will be a M$2 billion $525 million residential mortgage-backed securitization RMBS twice the size of the previous biggest deal, a M$1 billion collateralized loan obligation CLO from Alliance Merchant Bank.

Lucrative securitization mandates are scarce throughout the region at the moment, thanks mainly to the drop-off in Korean issuance, and the competition to get on this deal...

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