Samsung Card to close latest cross border ABS this week

Issuer''s third international deal takes company past $1 billion mark for securitization.

Samsung Card, Korea's biggest credit card company with assets of over $5 billion, is this week expected to close its third international securitization, according to a source familiar with the deal. HSBC is acting as sole lead manager on the $400 million issue, which has been placed privately.

When HSBC was mandated in April, it was rumoured that the deal could be for as much as $750 million, which would have made it the largest ever cross-border deal from the...

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