Korean credit card issuer LG Card completed its second private ABS, a $400 million deal via Merrill Lynch. Although Merrill Lynch would not give details on the transaction, observers believe the bank was also the sole investor on the deal, as was the case when the pair worked together last August (see ASR 8/16/04).

While Merrill refused to comment about the deal, officials at LG Card told local media that it will pay 35 basis points over Libor for the 3.25-year offering.

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