KEB Card, one of Korea's largest credit card companies and part of the Korea Exchange Bank Group, is believed to be close to mandating either Deutsche Bank or Nomura for its next asset-backed securitization deal. The two were short listed last week after KEB had initially sent out an RFP in mid-April to a number of banks including BNP Paribas and ING.
Observers say KEB 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 that KEB is open to doing the transaction in US dollars or Korean Won and has also not decided whether to do a term...
