© 2026 Arizent. All rights reserved.

Korea set for strong year-end finish

Published 1 Min Read

Korea is set to enjoy a strong finish to 2005. After Samsung Card recently secured Korea’s first case of triple-A ratings for an unwrapped transaction with a $300 million credit card issue via Standard Chartered, local rival LG Card completed a $400 million deal via Merrill Lynch.

Although Moody’s Investor Service rated LG’s issue a couple of notches below Samsung at Aa3, the bonds, which have a 4.3-year average life, enjoyed competitive pricing of 28 basis points over Libor. Aside from arranging the deal, Merrill is thought to be the sole investor, a role it has assumed on other Korean ABS transactions in the past year.

Another deal scheduled to close this year is Hyundai Capital’s 330 million auto loans offering, arranged by ING.

(c) 2005 Asset Securitization Report and SourceMedia, Inc. All Rights Reserved.

http://www.asreport.com http://www.sourcemedia.com

For reprint and licensing requests for this article, click here.

More From Asset Securitization Report

CLOs: No End in Sight

Upwards of $7 billion of collateralized loan obligations priced in December, bringing the total for the year to around $53 billion, and market participants say the 2012 pipeline is building.

The End of Private Student Loan ABS?

The cost of a college education continues to soar, and the interest rate on government-subsidized student loans is set to double. It would seem like a perfect recipe for more private lending and, by extension, for more securitization of private student loans, which has fallen sharply since the federal government took over this corner of […]

ABS Market Ready For Year-End

The home stretch to 2009 has begun, and ABS market participants appear to have kicked up their heels in hopes that the new year will bring a rebirth in the securitization space. Last week, U.S. ABS players gathered at the New York headquarters of the Securities Industry and Financial Markets Association and the American Securitization […]

New Year to Ring in Deal Flow?

With November fast approaching December and the end of 2008, ABS market participants have all but written off new issuance activity until at least January. While secondary market activity remains robust, with bid lists from every ABS sector coming in a flood, half the deals being shopped around in the secondary won’t find bidders, according […]

With Merrill, BofA Could Return to Emerging Markets

In the emerging market space, Bank of America’s purchase of Merrill Lynch resonates far and wide. While the commercial bank has been a non-entity in the business since 2003, Merrill has been an active player at least through last year. Indeed, the investment bank has a storied history in EM ABS, especially the Latin American […]