KDIC securitization placed privately

Korea''s KDIC hits the international ABS market for the first time with a $278 million deal.
The Korea Deposit Insurance Corp. KDIC, one of the government agencies responsible for restructuring of the financial sector, has finally launched its first international securitization.

Credit Suisse First Boston, Daewoo Securities, Hyundai Securities and SG were mandated last November to arrange the $278 million deal, but legal issues relating to KDIC subsidiaries caused delays to a deal initially targeted for launch in March.

A pool of 305 performing leases and loans worth around $470 million back the transaction, issued through the Hanareum International Funding special purpose vehicle. These assets were acquired from 16 failed merchant banks by the issuer in 1999.

The notes, which were placed privately, have triple-A ratings from both Moody's and...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222