IFLR1000

Korean Air Lines $340 million Boeing 777-300ER aircraft financing

11/8/2015
Asset finance
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$ 340 million

Completed

11/8/2015

Overview:

  • Two B777-300ER aircraft were financed with $170 million each.
  • The financing was obtained through the issue of guaranteed floating rate notes at $150 million and a loan of $190 million from financial institutions—including Standard Chartered Bank and Korea Exchange Bank.
  • The guaranteed floating rate note was in turn guaranteed by Export Import Bank of Korea. 

Katrin Kostadinova - Data analyst

Jurisdiction:

South Korea

Deal type:

Asset finance

Practice area:

Asset finance

Governing law:

South Korea

Industry sector:

Aviation

Firms:
Cleary Gottlieb Steen & Hamilton

Party: The Export-Import Bank of Korea (Guarantor)

Clifford Chance

Party: BNP Paribas (Lead manager)

Party: Standard Chartered Bank (Lead manager)

Party: Deutsche Bank (Security agent)

Party: Daiwa Securities Group (Lead manager)

Kim & Chang

Party: The Export-Import Bank of Korea (Guarantor)

Lee & Ko

Party: Korean Airlines (Borrower)

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