UBS Warburg tipped for Woori securitization

Rival banks say UBS has won latest Korean cross-border credit card ABS.

Woori Financial, the Korean holding company established last year by Hanaro Merchant Bank, Hanvit, Kwangju, Kyungnam and Peacebank, is believed to have awarded the mandate for its first international securitization to UBS Warburg.

Although UBS officials declined to comment on the reports, FinanceAsia has been told by officials at three rival banks, who also bid for the deal, that UBS has definitely secured the mandate, beating off bids from Barclays Capital, CSFB, Deutsche Bank, HSBC, ING...

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