South Korean mortgage agency to offer covered bond

06/16/2009 | EuroWeek

Korea Housing Finance mandated Standard Chartered and BNP Paribas to manage its first covered-bond offering. The mortgage agency in South Korea had planned to issue residential mortgage-backed securities but decided covered bonds were a better option. The agency's covered bond is the second such deal from an Asian borrower. South Korea's Kookmin Bank issued a $1 billion deal in early May.

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