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Securitization specialist has global vision

Lebanese reforms caught in the crossfire

Lebanon’s finance minister: ‘The phoenix will rise again’

Iad Georges Boustany, general manager at BSEC Boustany: SMEs are underserved

In June, East Cameron Partners in Texas became the first US oil and gas company to borrow money via an Islamic securitization structure. Merrill Lynch acted as bookrunner – no surprise there. But the bank that structured the deal might have raised a few eyebrows since it was Lebanon’s BSEC. The Beirut company might be small in size – it has only 15 employees – but it thinks big. Its aim is to structure securitizations for SMEs globally. In four years, the bank has financed $250 million-worth of deals with clients in Turkey and the Gulf Cooperation Council countries as well as the US and Lebanon. It has identified a niche that other Lebanese financial institutions have been late to latch on to.

The East Cameron deal is arguably the bank’s most high profile transaction since Hanco Rent-a-Car’s Caravan 1 securitization in 2004.

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