Lehman Brothers has advanced the development of Thailand's securitization market a notch further with the issue of the first publicly rated mortgage backed MBS deal from the country. SG Securities was brought in to act as underwriter on the Bt7.17 billion $177 million transaction, which is divided into Bt4.67 billion of bonds and a Bt2.5 billion structured loan.
The deal will be backed by the cash flows generated from two loan portfolios acquired from the Financial Restructuring Agency in 1998...