Further to last week's story, (ASR 1/17/05), it is now understood from a well-placed source that Citigroup Global Markets' mandate for Korea's Asiana Airlines is not a refinancing of its 10 billion ($97.1 billion) December 2003 deal, as previously reported.

Although the asset pool is the same, the source said it would be a new Y10 billion offering backed by the excess cash flows generated on the first transaction. Completion is expected sometime in February.

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