MBK Partners to Provide Joint Guarantee for 200 Billion Won Homeplus DIP Loan

MBK Partners Chairman Kim Byung-ju and MBK Partners announced that they will provide a joint guarantee for the entire 200 billion won emergency operating fund, known as Debtor-in-Possession (DIP) financing, if it is executed for the revitalization of Homeplus.

MBK Partners stated this in a press release today (July 16), while clarifying that the board of directors of Meritz Financial Group, the largest creditor of Homeplus, has not yet reached a decision, and that reports suggesting the loan has already been finalized are inaccurate.

It is reported that Meritz Financial Group, the largest creditor of Homeplus, is holding a board meeting today to discuss the 200 billion won DIP loan for Homeplus.

According to political and other sources, the two sides have reportedly found common ground in a plan where Meritz Financial Group provides the DIP loan on the condition that MBK Partners Chairman Kim Byung-ju provides a personal guarantee for the 200 billion won.

MBK Partners stated, "If Meritz Financial Group finalizes the decision to provide the 200 billion won emergency operating loan, Chairman Kim and MBK Partners plan to provide a direct joint guarantee for the entire amount of the loan."

MBK Partners explained that it has provided approximately 400 billion won in financial support through personal contributions, cash injections, and joint guarantees before and after the commencement of the Homeplus rehabilitation process, and that the total support will increase to approximately 600 billion won including this latest joint guarantee.

The firm added that if the rehabilitation process is maintained, it is expected to help with the normalization of Homeplus's management, the attraction of investors, and the pursuit of mergers and acquisitions (M&A).
※ Please note: This article was translated by AI and may contain errors.