KEB Credit Services, one of Korea's largest credit card companies and part of the Korea Exchange Bank Group, has selected Nomura to arrange its next asset-backed securitization. Nomura beat off a bid from Deutsche Bank to win the mandate.
According to a source familiar with the original RFP that KEB sent out in mid-April, the company is looking to do a three year deal backed by a portfolio of around W200 billion $167.1 million in card receivables. The source adds KEB is open to doing the transaction in US dollars or domestically and has not decided whether to do a term offering or conduit transaction.
The year is turning out to...
