In a surprising turn of events on the Asian asset backed securitization ABS scene, news has emerged from Jakarta of two potential transactions by state-owned organisations. Pertamina, the oil and gas giant, and Bank Negara Indonesia BNI, the largest publicly traded bank in Indonesia, have both held beauty parades for potential ABS deals in the last couple of months. Both foreign and local houses have been invited to pitch.
Details are still fairly sketchy on the Pertamina transaction, other than it is believed to be a renewed effort to do a deal backed by gas revenues. The company has been linked with such an issue at various times in the past and...
