Hsinchu International Bank was set to price the first cross-border residential mortgage backed securitization out of Taiwan. Calyon Securities is sole lead manager on the 250 million ($301 million) issue and will also provide the swap to mitigate currency and interest rate mismatches.

The deal, issued out of the Hsinchu International Mortgage 1 SPV, is backed by a static pool of 6,921 first-ranking loans with a current balance of NT$13.1 billion ($391.1 billion). The weighted average seasoning of the portfolio is roughly 14 months, while the LTV is 65.6%.

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