Investors snap up $500m KFB mortgage deal

Cross-border mortgage deal thrives amid parliamentary chaos.

International investors have given the thumbs up to Korea First Bank's $499.6 million mortgage securitization deal despite concerns surrounding political turmoil and a consumer credit crisis still fresh in many investors' minds.

The impeachment of South Korea's president, Roh Moo-hyun, split the country and destabilized parliament just as KFB's deal was pricing. Bankers selling the offer also had to contend with the fact that this was the first monoline wrapped cross-border securitization to go on sale since...

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