Samsung Life to launch MBS deal next week

Insurance company will bring new asset class to Korea cross-border market with $465 million deal.

Korea's biggest insurance company, Samsung Life Insurance, will soon bring some welcome diversity to the cross-border securitization market with the launch of the eagerly awaited first international mortgage backed deal to come out of the country. Morgan Stanley is acting as lead manager on the $465 million transaction with Lehman Brothers and Samsung Securities brought in as co-arrangers.

A banker close to the deal said that roadshows have already been conducted in the major financial centres in Asia, Europe and the United States with pricing expected next week, although the banker would not be drawn on the day.

The banker would also not offer an indication of what yields can be expected. I would rather...

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