New asset class securitized in latest Hanvit deal

ABN Amro lead manages a W280 billion ($216 million) deal backed by documents against acceptance and NPLs.

Hanvit Bank, Korea's largest commercial bank, has hit the asset backed securitization ABS market once again with its tenth domestic deal. ABN Amro acted as lead manager on the W280 billion $216 million transaction.

Issued through the Hanvit-10 ABS special purpose vehicle SPV, the offering is the first Korean ABS to be backed by documents against acceptance. These are short-term revolving credit facilities provided by banks to manufacturing companies, in this case Daewoo Electronics and Saehan Media.

In addition,...

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