korean-air-prices-biggest-ever-securitisation

Korean Air prices biggest ever securitisation

South KoreaÆs national airline secures the tightest ever pricing with its third yen future-flow deal.
Korean Air has closed its biggest ever securitisation with record tight pricing. The Ñ40 billion deal is backed by the airlineÆs yen-denominated ticket sales and was in such demand that the joint bookrunners, HSBC and Korea Development Bank, were able to sell the deal without even holding a roadshow.

Although the deal didnÆt require much innovation and came swaddled in a guarantee from Korea Development Bank, it required good execution to achieve the 25bp over yen-Libor pricing.

ItÆs a fantastic deal, says one rival banker. ItÆs great to see a repeat issuer in the market and in the future it would be good to see some issuers moving away from the KDB guarantee.

There is...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222