Joint lead arrangers Standard Chartered Bank and The Siam Commercial Bank completed the issue and placement of B4 billion ($98 million) of debentures backed by B4.9 billion of motor vehicle receivables originated by The Siam Industrial Credit Public Company, a licensed finance company. The deal is the largest, and one of only six securitizations to be completed under Thailand's SPV Act, which is approved by both the Bank of Thailand and the Securities and Exchange Commission of Thailand. Coudert Brothers Bangkok advised SICCO Special Purpose Vehicle 1 Company Limited and the joint lead arrangers. Partner Stephen Bennett led the Coudert team. Allen & Overy's Stephen Jaggs advised Fitch Ratings.
June 30 2005