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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (55349)	11/11/2001 11:18:11 PM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Positive: Monday November 12, 9:39 AM Korea Technology Fund to Issue $US300MLN for Start-ups sg.news.yahoo.com SEOUL, Nov 12 Asia Pulse - The Korea Technology Credit Guarantee Fund (KTCGF) would soon issue US$300 million worth of primary collateralized bond obligations (CBOs) for venture startups in the U.S. and European money markets, a finance and economy ministry official said Monday. It was the first time primary CBOs had been issued abroad since their introduction. The government established the system in the wake of the Asian financial crisis in late 1997 to help ease the credit crunch of domestic firms. The KTCGF, which has already designated Credit Suisse First Boston (CSFB) as the lead manager for the issuance of the primary CBOs, will select convertible bonds (CBs) from up to 60 startups by the end of next week as the basis for the primary CBOs. The KTCGF will also come up with comprehensive measures to head off financial improprieties by the managers or owners of the startups that obtained funds from the issuance of KTCGF-backed CBs. The KTCGF currently employs a "capital call" system under which it suspends provision of the funds under the primary CBO scheme if recipients fail to provide proof of legitimate uses for the funds.