[THE INVESTOR] KTB Investment & Securities has signed a deal worth US$85.6 million with a Chinese aircraft leasing company to buy an Airbus wide body plane which is being leased by Singapore Airlines in a bid to expand its alternative investment portfolio, the South Korean brokerage said on Aug. 29.
KTB Investment raised funds from local institutional investors, including insurers, with an expected annual return of 3 to 6 percent a year for the next six years until Singapore Airlines ends its rental contract of one A330-300.
The deal comes as the security firm’s Vice Chairman Lee Byung-chul and CEO Choi Suk-jong pledged to find new revenue streams from investment banking market such as real estate financing and alternative investment in July.
By Park Han-na (
hnpark@heraldcorp.com)
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