FinanceAsia Achievement Awards 2000 - Best Asset-Backed Deal

Korea Asset Funding 2000?2001 Ltd., $367 million secured FRN

Deutsche Bank, UBS Warburg

No transaction better exemplifies a country's attempts to sort out its non-performing loan NPL problem than the Korea Asset Management Company's Kamco international asset-backed deal. Structured as a true sale collateralized loan obligation CLO, the issue ranks as Asia's first cross-border NPL securitization, Korea's largest international securitization and the region's second largest such deal ever. Kamco hopes that the benchmark transaction will not be its last and believes too that it has set a template for others in the Korean Republic to follow.

For the borrower, the transaction was said to provide a convenient, cost-effective means of financing over 87% of its dollar and yen portfolio, as well as...

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