Korea First Bank (KFB) has selected three supposedly less-established firms - BNP Paribas, Calyon Securities and Royal Bank of Scotland (RBS) - to jointly underwrite its third cross-border mortgage-backed deal.

The involvement of RBS came as a surprise to bankers at rival shops, some of whom were unaware the bank was even pitching. Sources confirmed that 16 banks ended up bidding, rather than the previously reported 12 (see ASR 9/20/04).

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.