The development of Chile’s domestic securitization market is gathering pace, with half a dozen transactions in the pipeline following the groundbreaking deal launched in January by Transa Securitizadora. As Euromoney went to press, Transa was about to launch a second offering, consisting of $9.7 million of notes backed by mortgage loans.
Potential issuers believe asset-backed paper will prove highly attractive to institutional investors, with the primary buyers being insurance companies and pension fund managers (Administradores de Fondos de Pensiones – AFPs).
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