The Korea Deposit Insurance Corp. (KDIC), the government agency responsible for restructuring the Korean financial sector, last week mandated four banks - two domestic, two foreign - to structure a transaction to be backed by lease receivables originated by the organization.

The partnerships of Credit Suisse First Boston and Daewoo Securities plus Societe Generale and Hyundai Securities were selected to structure and sell the deal, although at this stage it has not been announced who will be doing what. CSFB recently set up a team in Singapore to cover ABS in non-Japan Asia.

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