In what has been a quiet fortnight on the Asian securitization market, Japanese consumer finance company Hitachi Shinpan tested the waters with a deal backed by consumer loans.

Called HABS Corp., Series 2000-1, this was the first public deal in its asset class to use a master trust structure using Japanese Trust Law. The structure allows for additional receivables to be added to the pool for this deal as well as making it possible for Hitachi to issue future deals from the same vehicle.

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