BNP Paribas closes $149m Eximbond for Korean Air

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BNP Paribas has closed a $149 million US Export-Import Bank-guaranteed prefunded bond for Korean Air.

KE Export Leasing (2013-A) is refinancing the Boeing 777F (MSN 37640), which is scheduled to be delivered to the Korean carrier next week.

The French bank is the arranger of the deal, which priced at three-month US Libor plus 0.25%.

The pre-funded floating rate bond marks the first time an Asia Pacific airline has tapped this market for financing.

The transaction is also the first Ex-Im-guaranteed bond issuance by Korean Air.