KFB prices Korea's biggest cross-border securitization

Amid talk of HSBC takeover KFB sells €550m RMBS to European investors.

Korea First Bank has priced its latest mortgage-backed securitization at the aggressive end of the marketed range. The 550 million offer, which is the biggest ever cross-border securitization from South Korea and the largest asset-backed euro deal in Asia this year, was pitched to investors at a range of 21bp to 23bp over Euribor.

With roughly 3 billion of orders the bankers - BNP Paribas, Calyon and Royal Bank of Scotland - were able to sell...

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