According to market sources, Indonesia's PT Federal International Finance (FIF) is planning a return to the ABS market after a nine-year hiatus. ABN Amro is tipped to have secured the mandate for a cross-border motorcycle loans offering, although the bank declined to offer confirmation of its involvement.
FIF, the biggest motorcycle finance provider in Indonesia, is a subsidiary of one of Indonesia's major business groups, PT Astra International (Astra). Both were active issuers in 1996 and 1997, when Indonesia was a hub for securitization activity until the Asian financial crisis hit. Astra actually completed the first Indonesian securitization in August 1996, a $200 million auto loan ABS arranged by Barclays Capital.