Korean Air has mandated four banks to arrange US Export Import (Ex-Im) Bank-supported financing with an option to refinance under Ex-Im-guaranteed bonds, according to sources.
The carrier approached the market in September with an estimated $750 million request for proposals covering two Boeing 777-300ERs, one 777F and one 747-8F.
The carrier is scheduled to take four widebody aircraft next year but the mandate only covers three units.
BNP Paribas and Citibank will arrange Ex-Im-backed financing for the 777-300ER aircraft. The French bank was mandated for the February delivery, while the US bank will have the June delivery, say sources.
The 747-8F aircraft was jointly mandated to Goldman Sachs and Crédit Agricole Corporate and Investment Bank. The 747-8F is expected to be delivered in August.