Meritz Financial Group has decided to provide 200 billion won in emergency operating funds, known as Debtor-in-Possession (DIP) financing, to support the corporate rehabilitation of Homeplus.
The three Meritz Financial affiliates that serve as the largest creditors for Homeplus—Meritz Securities, Meritz Capital, and Meritz Fire & Marine Insurance—held consecutive board meetings today (July 16) and finalized the approval for the DIP financing.
Kim Byung-ju, Chairman of MBK Partners, and MBK Partners plan to provide a joint guarantee for the full amount of the loan once the funds are disbursed.