South Korean bad debt agency, the Korean Asset Management Corp., is closing in on its first international securitization deal, with confirmation from a company official that roadshows will begin in July, taking in Asia, the U.S. and Europe.

The deal is being arranged by UBS Warburg and Deutsche Bank and is expected to be worth $500 million. It will be backed by bad loans that the agency bought from Seoul Bank and Korea First Bank last year.

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