Korea Air Lines, the country's largest air carrier and part of the Hanjin Group, is set to launch its second cross-border securitization via Citigroup Global Markets. The 20 billion ($191.1 million) deal is scheduled to launch and price on Friday, according to a well-placed source, which will predominantly securitize future cargo receivables on Korea Air's various Japan routes.

The source said initial price guidance for the three-year deal was in the 38 to 48 basis point range over one-month Yen Libor, although it was anticipated that spreads would narrow once book building begins. As it will be a Regulation S-

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