A bank syndicate including Sumitomo Mitsui Banking Corporation (SMBC), Sumitomo Mitsui Trust Bank (SMTB) and Development Bank of Japan (DBJ) have closed financing on a new Airbus A380 equipped with GP7270 engines for Korean Air.
The banks are arrangers of a 12-year export credit agency-supported loan facility. The aircraft (MSN 96) was delivered earlier this month.
It is the sixth unit of a 10-aircraft order placed in 2003 by Korean Air.
The carrier jointly mandated Crédit Agricole Corporate & Investment Bank (CA-CIB) and KfW IPEX-Bank to arrange a 12-year ECA guaranteed loan on four A380 deliveries in 2011 while another A380, which was delivered in June last year, was financed by Citibank and Sumitomo Mitsui Banking Corporation.
According to Flightglobal's Ascend online database, Korean Air has two more deliveries scheduled next year, and the remaining two in 2014.