Asia: Kamco
Last July the Korean Asset Management Corporation (Kamco) disposed of Korean non-performing loans through an asset-backed securitization (ABS) structure that won awards from most of the leading financial magazines, including Euromoney.
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Korea is the leading Asian expert on securitizing NPLs |
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The $367 million, nine-year notes were three times oversubscribed and incorporated some very complex structures to securitize 135 dollar- and yen-denominated corporate loans. The transaction had been rightly hailed as a milestone for the Korean economy which has to deal with its mounting NPLs.
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