Korean consumer finance company Daewoo Financial Services Corp. will launch its first securitization by mid-June, a W229 billion ($193 million) auto loan receivables-backed transaction, according to a banker at arranger Daewoo Securities.

Unlike previous domestic asset-backed deals, Daewoo's transaction relied on outside help. Chase helped structure the transaction, will serve as its trustee and will monitor the performance of originator and back-up servicer Hana Bank.

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