Samsung Life launches first Korean cross border MBS

Most eagerly awaited Asian securitization of the year is priced.

After six months in the making, Korea's biggest insurance company Samsung Life Insurance has brought some welcome diversity to the Asian securitization market with the launch of the first international mortgage backed deal to come out of the country. Morgan Stanley acted as lead manager on the transaction with Lehman Brothers, Nomura and Samsung Securities as co-arrangers and ING as junior co-manager.

The deal - issued out of Bichumi Global 1, a special purpose vehicle registered in the Cayman...

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