MIAMI, Fla. - While local securitization markets in Latin America race ahead of the cross-

border in terms of the number of deals and even in volume, they carry their own endemic risks. One major beef expressed at Euromoney's Securitization in Latin America Summit is the premium exacted by domestic investors on structured deals over plain vanilla bonds. "Issuers are able to get better terms on a straight basis than on a securitized basis," said one banker attending the conference. "Often local investors don't have the need to look for alternative structures."

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