Chinatrust Commercial Bank, the largest private lender in Taiwan, completed on Tuesday the country's first public RMBS with a NT$5 billion (US$147 million) offering. Lehman Brothers acted as arranger and co-lead managing underwriter, with Fubon Securities, Grand Cathay Securities and Yuanta Core Pacific Securities making up the local syndicate.

The transaction is backed by 2,723 first lien mortgage loans with an average outstanding balance of NT$1.8 million (US$53,000). The weighted average loan-to-value is 73%.

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