Kamco does go

Korean asset management company launches Asia''s first cross-border securitization of non-performing loans.

Korea Asset Management Company Kamco launched a $367 million deal earlier this week on an issue price of par to yield 200bp over Libor. The deal, led by Deutsche Bank and UBS Warburg, has a final maturity of 8.5 years, and an average life of 4.8 years.

Rated at Korea's sovereign Baa2BBBBBB ceiling, the offering is classified as a true sale collateralized loan obligation CLO securitization under the republic's Asset Backed Securities ABS Law enacted in...

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