Sicco launches record Thai ABS Deal

Thai finance company Siam Industrial launches record inaugural auto loan securitization.

Siam Industrial Credit Public Company Ltd. SICCO has launched Thailand's first ever auto loan asset-backed securitization with a Bt4 billion $163 million 4.5-year offering via joint leads Standard Chartered and Siam Commercial Bank.

The deal was priced at par with a coupon of 4.21% to yield at 85bp over three-year Thai Treasuries. Following a marketed range of 70bp-90bp over Treasuries, the joint lead managers were able to settle comfortably at the 85bp level having built an...

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