Korean Air Lines (KAL) has successfully closed a US$300m secured floating rate notes deal with Standard Chartered Bank (SCB). This transaction represents the first US dollar denominated securitisation of passenger ticket sales predominately on KAL’s North America routes. 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 one-month US dollar Libor + 200 bps.
KAL has been active in the cross-border asset-backed securities (ABS) market, having previously issued five JPY-denominated ABS. This transaction represents the first US dollar-denominated ABS and the sixth cross-border ABS.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more