The Korea Asset Management Corporation Kamco will act as special adviser on a proposed asset-backed securities deal for its Chinese counterpart, China Huarong Asset Management Corporation Chamc, the companies announced recently.
The arrangement, which follows Kamco and Chamc signing of an MOU in February, hopes to secure around W150 billion $115.1 million from the issue.
If all goes to plan, Chamc hopes to complete the transaction by November, making it the first ever securitization to come out of China.
Kamco will send its advisory team to Beijing shortly to begin due diligence on which assets should make up the underlying pool, as well as looking at possible structures.
Bankers in the region will...
