MRTC steams ahead with rare Philippines securitization

A $170 million securitization of equity rental payments received by the Metro Rail Transit Corp (MRTC) will be launched next Friday.

HypoVereinsbank may be close to succeeding where others have failedĀ and actually execute an asset-backed securitization out of the Philippines. The bank is currently testing market appetite for a $170 million deal for MRTC - the consortium responsible for building the 16.8 kilometer railway that runs over the EDSA highway in Metro Manila. Formal launch of the deal will take place at a presentation in Manila next Friday.

Assuming the response from investors meets both the arranger and...

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