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S.Korea Woori Bank eyes $500 mln MBS in mid-2009

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S.Korea Woori Bank eyes $500 mln MBS in mid-2009 - Soth Korea - Mortgage

South Korea's Woori Bank, a unit of Woori Finance Holdings, said on Thursday it was planning to sell $500 million worth of mortgage-backed securities (MBS) overseas either in June or July.

'Foreign borrowing conditions have been improving at a fast pace,' a Woori ( WF - news - people ) Bank spokesman quoted CEO Lee Chonghwi as saying at a news briefing.

'We are planning to sell $500 million worth of MBS abroad.'

Kookmin Bank ( KB - news - people ), South Korea's biggest lender, sold $1 billion worth of five-year covered bonds on Wednesday, according to a market source familiar with the deal.

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