(Photo= Korea Investment & Securities)

[Alpha Biz= Reporter Kim Sangjin] On August 27, Korea Investment & Securities announced that it will finalize the refinancing of DN Solutions' acquisition financing on August 29.

Korea Investment & Securities was selected as the sole lead arranger in June, and has since formed a syndicate with NH Investment & Securities, NH Nonghyup Bank, and Woori Bank to spearhead the syndication process.

DN Solutions, a global machine tool manufacturer, was acquired by DN Automotive for approximately 2.1 trillion won in 2022. The acquisition financing at that time amounted to around 1.6 trillion won, with the current refinancing addressing a portion of this, totaling 1 trillion won. The refinancing is expected to have an interest rate in the low 5% range.

Driven by the global economic recovery and increased capital expenditures by manufacturers, DN Solutions has secured loan commitments amounting to 2.5 times the syndicated financing size earlier this month.

Since its acquisition by DN Automotive, DN Solutions has seen a rapid improvement in performance. Particularly, the proportion of high-margin high-end products has increased, leading to a rise in EBITDA from 250 billion won at the time of acquisition to 465 billion won in 2023.

Korea Investment & Securities had previously arranged two refinancing deals for DN Solutions when it was owned by MBK Partners.

 

 

 

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