Kamco to advise Chamc on ABS issue

Kamco is one of Asia''s leading securitization issuers. Now the Korean AMC wants to become an arranger as well.

The Korea Asset Management Corporation (Kamco) will act as special adviser on a proposed asset-backed securities deal for its Chinese counterpart, China Huarong Asset Management Corporation (Chamc), the companies announced recently

The arrangement, which follows Kamco and Chamc signing of an MOU in February, hopes to secure around W150 billion ($115 1 million) from the issue

If all goes to plan, Chamc hopes to complete the transaction by November, making it the first ever securitization to come out of China

Kamco will send its advisory team to Beijing shortly to begin due diligence on which assets should make up the underlying pool, as well...

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