LG Card prices cross border securitization

LG Card prices its first cross border securitization in a deal lead managed by UBS Warburg and CSFB.

LG Card, the Korean credit card company, has priced its inaugural cross border issue of securitized bonds. The $500 million, five-year deal was priced at 50bp over Libor in New York at lunch time on Wednesday. The deal was lead managed by UBS Warburg and CSFB.

The bonds are rated triple-A by Moody's and SP because they have a monoline wrap by specialist insurer Financial Security Assurance. The all-in cost to the issuer, including the price paid for...

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