Korean Air issues W900b ABS

Published : Jul 11, 2016 - 18:24 Updated : Jul 11, 2016 - 18:39

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[THE INVESTOR] Korean Air Lines disclosed on July 11 that it has issued asset-backed securities to the value of 900 billion won (US$ 783 million).

Korea Air’s latest ABS are backed by the company’s passenger fare income on domestic flights.

The company had initially planned to issue ABS to the value of 700 billion won, but raised the figure to secure funds while interest rates are low, a Korean Air official told the local media.

With the latest issuance, the company has issued ABS valued at 1.2 trillion won in the space of four months.

By Choi He-suk (cheesuk@heraldcorp.com)