View of Lotte Card. (Photo=Lotte Card)

[Alpha Biz= Reporter Kim Minyoung] MBK Partners has embarked on a refinancing project for Lotte Card, which includes a recapitalization component. The refinancing effort comes as the 640 billion won acquisition financing from the purchase of Lotte Card is set to mature in October.

According to investment banking sources on September 9, MBK Partners is pursuing this refinancing as part of a broader strategy to manage its financial obligations. In 2019, MBK Partners, in collaboration with Woori Bank, acquired a 79.83% stake in Lotte Card for 1.38 trillion won, using 640 billion won in acquisition financing.

At that time, Woori Bank and MBK Partners managed the acquisition financing exclusively. MBK Partners is now considering refinancing the acquisition debt and may also look into additional loans to provide interim distributions to its investors.

Several financial institutions have submitted proposals for this refinancing, leading to a competitive process. Given the large scale of the refinancing, it is likely that multiple financial institutions will be selected, with Woori Bank and other firms vying for the role.

 

 

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