Bankers at SG, Hana and Fuji are celebrating the first ever limited recourse project financing to close in Korea. The deal is for the purchase of a petrochemical plant from the Daelim group by a project company called PolyMirae. PolyMirae is a 5050 joint venture between Daelim and the Montell Group - which in turn is held by Montell Industrial, Taiwan Polypropylene and Montell SDK Sunrise.
The size of the deal is $284 million of which $184 million is in debt and $100 million is in equity. The debt portion is split into three tranches all of which have a seven...
