CDB reveals RMB10bn securitization plan

China Development Bank is reportedly seeking clearance from the People's Bank of China to securitize RMB10 billion in infrastructure loans, making for the country's largest asset-backed securitization issue if approved. Quoting a CDB official, the South China Morning Post said new debt issued by the bank would be in future tied to performing assets, not non-performing loans. The issue is expected to be yuan-denominated and sell to domestic investors. China's last significant securitization effort was China Cinda Asset Management's RMB2.55 billion issue.