KDIC securitization placed privately

Korea''s KDIC hits the international ABS market for the first time with a $278 million deal.

The Korea Deposit Insurance Corp. KDIC, one of the government agencies responsible for restructuring of the financial sector, has finally launched its first international securitization.

Credit Suisse First Boston, Daewoo Securities, Hyundai Securities and SG were mandated last November to arrange the $278 million deal, but legal issues relating to KDIC subsidiaries caused delays to a deal initially targeted for launch in March.

A pool of 305 performing leases and loans worth around $470 million back the transaction, issued...

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