New CLO sets standard for Malaysian ABS market

25 companies benefit from largest domestic securitization.

Affin Bank, using Nomura Advisory Services as technical advisor, recently closed Malaysia's largest domestic securitization to date with a M$1 billion $263.1 million primary collateralised loan obligation CLO.

Bankers involved on the transaction claim that it is the first CLO globally to securitize a portfolio of new loans.

The transaction is backed by loans of between M$25 million to M$45 million originated by Affin to 25 listed companies, offering them the chance to tap capital market investors rather than depend purely on commercial loans. The companies come from 16 industry sectors with ratings ranging from BBB to AAA.

Nomura, which does not have a licence to sell securities in Malaysia, was brought in...

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