Kookmin Bank, South Korea's largest commercial bank, has invited international arrangers to bid on a $1 billion cross-border residential mortgage-backed offering. A small number of banks - believed to include ABN Amro, Calyon, Citigroup Global Markets, HSBC, JPMorgan Securities and Standard Chartered - are competing for what will be Kookmin's debut RMBS, scheduled for launch early in 2007.

If successful, bankers believe Kookmin could be followed to market by several other mortgage originators including Hana Bank, Samsung Life, Shinhan Bank and Woori Bank.

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