Citigroup wins Ñ10bn Asiana securitization

Future flow ABS will mimic KAL deal.

Asiana has mandated Citigroup to advise on a carbon copy of Korean Air Lines' yen-denominated future flow securitization. The airline is hoping to raise 10 billion $92 million from the bond offer, which is expected to close before the end of the year.

The original deal, handled by Nomura and launched in September, broke new ground for the Korean market despite delays caused by Sars and the Iraq war. Among other things, it was the first yen-denominated ABS...

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