Korean Air Lines bond grounded

New dollar-denominated deal stalls during syndication, adding a new woeful chapter in the collapse of the carrier's affiliate Hanjin Shipping.

Korean Air Lines bond grounded
Hanjin group chairman Cho Yang-Ho

Korean Air Lines' attempts to improve its leverage ratios amid the collapse of its affiliate Hanjin Shipping came crashing down on Tuesday after the group pulled a $300 million hybrid bond issue following two days of attempted syndication. 

The unrated group's 30- non-call three-year bond is believed to have fallen victim to a chasm that opened up between the borrower and its prospective investors' pricing expectations in an unforgiving market where the power...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition

CONFERENCES