New primary CBO launched from Korea

BNP Paribas working with Hannuri Investment & Securities on a $350 million CBO for Korean SMEs.

Marketing began yesterday for a $350 million primary collateralized bond obligation CBO backed by a portfolio of bonds and warrants issued by Korean small and medium-sized enterprises. Hannuri Investment Securities, a domestic Korean house, is acting as arranger and joint lead manager on the transaction with BNP Paribas as joint lead and sole-bookrunner for the $266 million of rated senior notes. It is the first ex-Japan Asia securitization mandate that BNP has been involved with.

According to bankers familiar with...

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