J.P. Morgan's securities arm Chase Securities recently closed what it said was the first future flow securitization from South Korea and the first airline-ticket receivables ABS from Asia since 1997's financial crisis.

The $65 million privately placed deal parcels current and future ticket receivables generated in North America by Asiana Airlines, Korea's second largest airline, and paid via American Express, Diners Club, Visa and Mastercard, plus certain cash sales.

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