SCB is the sole arranger and lead manager while KDB is the credit facility provider and swap provider.
The transaction has a maturity date of October 2014 and a floating rate coupon of 1-month USD LIBOR + 200 bps.
Korean Air Lines general manager and head of financing team Moon Kwon Oh said that Korean Air is pleased to close the deal successfully, especially under the turbulent market conditions. It is meaningful for the company that this transaction is backed by USD denominated assets for the first time.
SCB global head of structured financing solutions Warren Lee said that the success of this transaction further reinforces the positive relationship between Korean Air and Standard Chartered Bank. Given Korean Air’s leading position in the trans-pacific routes and robust transaction structure, they were able to achieve a very competitive pricing despite the continuing market turmoil.
