The Korea Asset Management Corp. (Kamco) has selected Warburg Dillon Read and Deutsche Bank A.G. as advisors to help structure a global non-performing loan-backed securitization to be launched early next year, said a Kamco official.
The selection comes after the agency invited banks to submit requests for proposals in October (ASRI 11/1/99 p.2). If successful, it will be Kamco's first international NPL-backed securitization. The agency, which was mandated in 1997 to clean up South Korea's banking sector, is looking to overseas investors to diversify its sources of funding. This year, it has already issued three NPL-backed deals placed in the domestic market.