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Market Chatter: Lotte Card Issues $300 Million in Overseas Asset-backed Securities

MT Newswires Live
Sep 21

Lotte Card issued $300 million in privately placed overseas asset-backed securities (ABS) with an average maturity of 3.5 years, Pulse News reported Friday, citing a Lotte Card official.

Mitsubishi UFJ Financial Group Inc. (MUFG) and Société Générale SA subscribed to the ABS. The securities are backed by credit card receivables, the report said.

MBK Partners holds a majority stake in Lotte Card, while Lotte Corporation's (KRX:004990) Lotte Group and Woori Financial Group's (KRX:316140) Woori Bank hold minority stakes.

Shares of Lotte Corporation fell nearly 1% in recent trade, while those of Woori Financial Group added over 1%.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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