Korea: non-performing loans securitization

Korea Asset Management Corporation (KAMCO) recently completed its first international securitization of non-performing loans (NPLs). This transaction is one of the few international securitizations to have emerged from Korea. It is the first securitization of non-performing assets by a Korean Government agency. We outline some of the key features of this important transaction, which was arranged by Deutsche Bank and UBS Warburg (as joint lead managers). Simmons & Simmons advised KAMCO.