Samsung Capital launches fifth international ABS

Korea''s most frequent cross-border issuer sells $210 million consumer loans securitization.

Samsung Capital, the Korean consumer finance company, yesterday launched its fifth cross-border securitization. ING Debt Products is acting as sole arranger, structuring agent and lead manager on the $210 million deal, which is backed by a portfolio of revolving consumer loans.

To some extent, ING could be seen as stepping into the breech with this deal. Samsung mandated Merrill Lynch in August to arrange a $400 million unsecured consumer loans deal, with the expectation of completing the transaction by years...

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