BNP sees surge of Korean mandates

Market sources reveals that BNP has won three deals in Korea in recent days.

BNP Paribas has won a string of key mandates in Korea in recent days, two of which involve Shinhan Financial Group.

The first deal is a $400 million mandate for Shinhan Card. The deal, which is expected to be launched in July or August, is an asset backed security. It will not be wrapped, but following the trend this year will be supported by a BNP conduit. It is the first ABS transaction that BNP has been mandated on this year.

However, it will be closely followed - probably in August or September - by $500-750 million ABS for Shinhan Bank. This again will involve a BNP conduit and will be...

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