Credit Suisse First Boston has closed Korea's first international primary collateralized bond obligation CBO in tandem with two government agencies, the Korea Development Bank KDB and the Korea Technology Credit Guarantee Fund KOTEC.
The $250 million transaction is notable for the speed in which CSFB was able to get it to market. The bank was only mandated in mid-October, so for CSFB to structure and fully place the deal in just over month makes it the fastest international ABS term deal to emerge from Asia.
One of the main reasons for the quick execution was down to KDB already having had experience in issuing domestic CBOs, so it knew exactly what type...
