The Government Housing Bank (GH Bank) of Thailand this week signed a contract with the Secondary Mortgage Corp. (SMC) for the securitization of 50 billion baht ($1.4 billion) worth of loans within five years, according to market reports

SMC will start issuing the first lot of GH Bank's securitized bonds worth 3 billion baht early next year. After that, it will issue securitized bonds worth around 10 billion baht each year.

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