Kookmin Card set to complete second part of $1 billion ABS programme

Having already completed one deal with ING, Kookmin will launch second $500 million issue with Banc One next month.

Kookmin Card, one of Korea's biggest credit card companies, hopes to launch the next part of its $1 billion securitization fundraising for 2002 with a $500 million deal via Banc One Capital Markets in the second week of December. A company official says it has been waiting until the swap market was more favourable before launching the transaction.

Earlier this month, Kookmin completed a transaction for the same amount with ING acting as sole lead manager.

ING will act as...

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