Merrill Lynch expects to launch a long-delayed aircraft loan-backed securitization from Korea this week.

The $165 million transaction is backed by seven separate loans originated by Hanvit Bank and Korea Exchange Bank for the purchase of 15 aircraft by Korean Airlines, said sources in Hong Kong. If launched, it will be the first securitization of aircraft financing in Korea, and the first securitization of a syndicated loan in Asia. At presstime the deal was awaiting final approval.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.