Multidana raises $177.6m<\/p>\n
HONG KONG (Reuters): Indonesian finance firm PT Putra Surya
\nMultidana has completed a US$177.6 million asset-backed
\nsecurities (ABS) issue, arranger Salomon Brothers International
\nsaid yesterday.<\/p>\n
The issuer of the securities is Indonesian Motor Vehicle
\nFunding 1997-1 Ltd., a special-purpose company incorporated in
\nthe Cayman Islands.<\/p>\n
The securities, which have an average life of 1.03 years and a
\nstated maturity of 2001, were priced at 17 basis points over the
\none-month London Interbank Offered Rate.<\/p>\n
The securities were backed by motorcycle and light commercial
\nvehicle loans on the islands of Java and Bali.<\/p>\n
They were rated Aaa by Moody's Investors Service and AAA by
\nStandard and Poor's based on a guarantee from Financial Security
\nAssurance Inc., a unit of Financial Security Assurance Holdings
\nLtd.<\/p>",
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