Sinopac lines up mortgage-backed securitization

Taiwanese bank invites foreign houses to advise on debut asset backed deal.

Bank Sinopac is set to become the latest Taiwanese bank to line up a securitization deal, providing yet more evidence that the country is going to be a hotbed of asset-backed activity in the ex-Japan Asia region.

According to market participants, Sinopac will listen to deal pitches from at least two, but possibly three, foreign investment banks this week. CSFB, Deutsche Bank and Merrill Lynch traditionally Sinopac's house bank are the three foreign houses which have been strongly linked...

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