Titulizadoras Line up RMBS

Titulizadora Colombiana plans to sell COP400bn ($223m) in a multi-tranche RMBS next week with a similar structure to an April issue. The securitizer plans to complete 5-6 similar fixed-rate peso-denominated deals this year, Javier Utria-Lazcano, investments and market development director tells LatinFinance. He adds that it may also do an inflation linked transaction. The structure will be similar to April’s sale of COP207bn in 2018 and 2030 senior and subordinated notes. Utria-Lazcano notes that at this point in the development of the Colombian markets, it is best to keep transactions simple to continue to develop the asset class, with diversification of products as it progresses. Meanwhile, Titulizadora Peruviana – in which Titulizadora Colombiana is invested – plans to issue an RMBS in the next few months. A second is likely to follow by the end of the year, with the pair expected to total roughly $100m. Titularizadora Colombiana, which is backed by the IFC and Colombian private mortgage banks, provides a link between the capital market and housing sectors by issuing MBS.