Kookmin seeks approval to spin-off credit card unit
Kookmin Bank has hit a roadblock in its plan to spin off its credit card business: around $2bn of its credit card assets are tied up as collateral backing its $1bn covered bond. The bank will now approach investors for permission to radically alter the collateral backing the deal, EuroWeek Asia can reveal.
Unlock this article.
The content you are trying to view is exclusive to our subscribers.
To unlock this article:
- ✔ 4,000 annual insights
- ✔ 700+ notes and long-form analyses
- ✔ 4 capital markets databases
- ✔ Daily newsletters across markets and asset classes
- ✔ 2 weekly podcasts