Government Housing Bank overseas debt plan nixed.

Byline: Wichit Chantanusornsiri

Jul. 24--The Government Housing Bank will restructure its asset-securitisation plans to focus more on the domestic market, according to Sommai Phasee, the deputy finance minister.The state-owned GHB had proposed securitising up to 40 billion baht in mortgage assets in the offshore market to help raise funds for business expansion.

"I have told the GHB that I don't agree with the plans to offer securitised bonds offshore. The debt should be offered locally. Even though funding costs might be higher locally, once you include currency hedging costs, the costs should be about the same," Mr Sommai said.

The Finance …