Securitization plans are moving forward apace at one of Argentina's most active securitizers, Banco de Galicia y Buenos Aires. On the heels of two deals backed by credit card receivables for its subsidiary Tarjeta Naranja and another similar transaction in the pipeline the bank is getting closer to launching its first international mortgage securitization.

The transaction will be managed by Merrill Lynch and might feature a political insurance policy from the Overseas Private Investment Corp. (Opic), the U.S. federal agency created to support U.S. business interests in developing countries.

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