Standard Chartered wraps up Korea Air ticket receivables securitisation deal

Korean Air Lines has completed a ¥40 billion ($479.3 million) securitisation based on ticket receivables, the largest asset-backed security deal in Asia so far this year, according to the deal arranger. Sandard Chartered acted as the sole lead arranger for the deal, with Korea Finance Corp (KoFC) acting as credit facility provider and Korea Development Bank providing interest rate swaps.

The underlying transaction is backed by existing and future passenger ticket bookings on Korean Air flights