Daewoo Securities launches CBO deal

Daewoo Securities has launched a W160 billion CBO deal for small- and medium-sized Korean corporates.

Koreas Daewoo Securities has re-entered the securitization market with a collateralized bond obligation CBO that parcels together corporate bonds issued by 52 small- and medium-sized domestic companies. The W160 billion deal $124.8 million is unusual in that CBO portfolios typically include bonds issued by larger firms, but Daewoo worked with the Small and Medium Industry Promotion Corporation SMIPC to promote this means of raising funds for smaller corporates.

The underlying asset pool - also valued at...

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