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Meritz Financial Group headquarters. (Photo courtesy of Meritz Securities) |
[Alpha Biz= Paul Lee] SEOUL, June 12 — Meritz Securities said it is reviewing a 100 billion won ($75 million) debtor-in-possession (DIP) loan to support Homeplus, which is currently undergoing corporate rehabilitation.
The firm said on June 11 that it is assessing detailed guarantee conditions for the potential financing, aimed at stabilizing employment and easing payment burdens for suppliers.
While Meritz had previously taken a cautious stance, it indicated that support of up to 100 billion won could be possible, provided guarantees are secured from MBK Partners and its chairman Kim Byung-joo.
However, uncertainty remains as the proposed loan is contingent on these guarantees. MBK Partners had earlier pledged an additional 100 billion won in joint guarantees to support Homeplus’ restructuring.
Homeplus is reportedly in need of approximately 200 billion won in emergency operating funds.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
