KDIC securitization to finally see light of day

The first international securitization from Korea''s KDIC is expected to launch in mid-September following months of legal difficulties.
August 30, 2001
Following months of legal wrangling, the first international securitization by the Korea Deposit Insurance Corp. KDIC, one of the government agencies responsible for restructuring the financial sector, has finally been given a launch date, rumored to be September 13 according to a well-placed source.

A banker at one of the leads says that if all goes to plan, the transaction backed by a portfolio of around $750 million performing leases will go ahead in the middle of next month. It is moving OK, we believe we have sorted out the potential difficulties and we are on track to get it finished by mid-September, he says.

The mandate for the deal, jointly held...

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