LG Card set to launch first cross border ABS

Korean credit card company taps market with $475 million securitization via CSFB and UBS Warburg.

LG Card, Korea's largest credit card company by market share according to Financial Supervisory Service statistics, is to price its first international securitization of card receivables within the next two weeks, according to market sources.

Credit Suisse First Boston and UBS Warburg are acting as joint lead managers on the deal, with LG Securities acting as co-lead and Kookmin Bank as the back-up servicer.

At a size of $475 million, the deal falls just short of an offering in...

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