Shinki Co Ltd has originated its second securitization of small business loans in Japan. The 20 billion transaction is Shinki's second securitization, following its first deal in 1999. Both transactions were arranged by ING Barings.

Noriko Yamada at ING Barings in Tokyo says: "Shinki wanted to have a different kind of channel for funding. This serves as an alternative to bank borrowing or a straight bond."

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