Thai securitization spurred by consumer boom

Consumer finance companies Aeon and National Finance to seek funding through securitization.

Thailand's finance companies are preparing for changes brought on by the government's financial master plan by raising funding through securitizations. The plan, among other things, will abolish finance company licences, forcing the finance outfits to apply for bank licences or to merge with existing full-service banks.

National Finance and Aeon's Thai subsidiary are both planning securitizations. Aeon will raise Bt1.5 billion in a deal backed by receiveables from hire-purchase loans for consumer goods. The deal, arranged by Standard Chartered, has a final legal maturity of six years and a revolving period of three-and-a-half years. It is rated AAA by Fitch and the SEC is expected to to approve the transaction either at the...

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