Deal of the Month: HKMC’s infrastructure CLO

The deal marks the HKMC’s first infrastructure financing securitisation. It could act as a catalyst for development of this nascent asset class in Asia, as the region strives to bridge a $1.7 trillion annual infrastructure financing gap.

In May this year, the Hong Kong Mortgage Corporation (HKMC) priced a pilot $404.78 million project finance and infrastructure collateralised loan obligation (CLO), in a deal that would mark the first asset-backed securitisation to be issued by a Hong Kong-incorporated special purpose vehicle (SPV) listed on the market’s stock exchange.

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