UBS Warburg tipped for Woori securitization

Rival banks say UBS has won latest Korean cross-border credit card ABS.

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...

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