KSA MBS 1 will securitize around US$22 million mortgage loans originated by Kingdom Installment Company, a Saudi-based finance company 35% owned by Al Arkan Construction. The IFC has committed to partly guarantee or purchase the mezzanine tranches of future RMBS deals out of the programme up to a total investment of $200 million. The initial three-year deal will be an interesting test case for the region and is being arranged by Bahrain-based Unicorn Investment Bank and Standard Bank.
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