Turkey's largest securitization deal was launched recently by West LB's London-based securitization team. The $400 million deal for Akbank is backed by a combination of export payment orders, worker remittances and payments to clear foreign bank checks, with the former making up the majority of the pool. It has a five year final maturity.

The mix of assets was put together to make the deal more attractive than a deal backed by one asset class, as the diversity allows for increased protection. "Because the assets aren't correlated it is less likely that they would all be adversely affected at the same time," said West LB's Roberto Speranza.

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