KDIC may come wrapped

The non-performing loan securitization for the Korea Deposit Insurance Corp, which is expected in the market by March or April, may make use of a monoline insurance wrap. The bankers structuring the deal, which could be worth up to $500 million, are talking with monoline firms about a wrap that would take the deal's ratings up to triple-A.

The transaction is being lead managed by Credit Suisse First Boston, Daewoo Securities, Hyundai Securities and SG Asia.