Sun comes out for ING

Bank mandated to arrange RMBS deal for Taiwan''s E.Sun Bank.

ING has become the latest foreign house to land a mandate in Taiwan's embryonic securitization market. The bank will arrange residential mortgage-backed issue for as much as NT$5 billion $143.6 million for E.Sun Commercial Bank. Reports suggest that E.Sun would like to launch the deal by the third quarter.

E.Sun joins the list of Taiwanese financial entities lining up ABS transactions, which includes Bank Sinopac, Chang Hwa Commercial Bank, Chailease Finance, Chinatrust Commercial Bank, Cosmo Bank, First Bank, Hua Nan Commercial Bank and Taishin International Bank.

SG and Industrial Bank of Taiwan recently completed the country's first ever ABS deal - a NT$3.65 billion $104.8 billion collateralized loan obligation...

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