Korea Housing Finance Corporation (KHFC), the state mortgage company established in March by the Korean government and Bank of Korea, last week launched the first deal out of what will be a monthly mortage-backed securitization program.

Hana Securities, Korea Development Bank (KDB) and Samsung Securities acted as co-lead managers on the (KR)W552 billion (US$470 million) debut offering, which was split into nine tranches with maturities between one and 20 years.

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