Woori Financial, the Korean holding company established last year by Hanaro Merchant Bank, Hanvit, Kwangju, Kyungnam and Peacebank, is believed to have awarded the mandate for its first international securitization to UBS Warburg.
Although UBS officials declined to comment on the reports, FinanceAsia has been told by officials at three rival banks, who also bid for the deal, that UBS has definitely secured the mandate, beating off bids from Barclays Capital, CSFB, Deutsche Bank, HSBC, ING Barings, JPMorgan and SG.
According to a banker familiar with the request for proposals sent out by Woori, the transaction will be for between $400 million and $500 million, backed by credit card...
