India's state-owned housing and infrastructure financing body, the Housing & Urban Development Corp. (Hudco), is closing in on its inaugural securitization.

The deal is expected to be worth Rs10 billion ($230 million) in total, but there are suggestions that it may be split into two equally sized transactions to be issued at different times. It will be backed by infrastructure loans made to water, road, bridge and airport projects in Kerela, Maharastra, Karnataka and Gujurat (ASRI 9/6/1999 p.1).

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