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Biz News Korea(Eng)
Shinhan Investment invests $25.65 million in aircraft-backed ABS
- Collected
- 2017.01.21
- Distributed
- 2017.01.23
- Source
- Go Direct
According to the investment banking industry on Friday, Shinhan Investment decided to invest 30 billion won in subordinated assets-backed securities collateralized by 20 aircrafts owned by GE Capital Aviation Services (GE CAS), the world’s biggest commercial aircraft financing and leasing company under the U.S.-based General Electric Co. (GE).
Total 14 global airlines including Qatar Airways, Finnair and Egypt Air will lease the aircrafts, paying Shinhan about 5.5 to 6 percent annually. Airlines lease aircrafts for an average of 5.1 years as of the end of 2016.
Aside from popular models including Boeing 777-300ER and Airbus A330-300, the ABS is backed by a diverse range of small and large aircrafts.
Separately, Shinhan Investment invested 20 billion won as subordinated bond in Boeing B777-300ER leased by Emirates Airline in early November last year.
By Park Yun-gu
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