Arrangers JP Morgan, Hana Bank and Kookmin Bank launched a Won 800 billion US$666 million LBO financing for the purchase of Hyundai Petrochemicals by Honam Petrochemical and LG Chem last Friday. At time when Korean banking assets continue to offer nominal margins, Hyundai Petrochemical offers a significant pick-up
The total consideration is KSW1.74 trillion US$1.45 billion, with additional funds to come from a Won 600 billion US$500 million equity injection from the sponsors and a Won 340 billion US$283 million deferred notes issue to be held by the creditors.
This loan is split between a Won 400 billion US$333 million 366 day tranche and...
