MBK Partners, which has been at odds with Chairman Choi Yun-beom over the management rights of Korea Zinc, has entered into a new loan agreement with NH Investment & Securities. Last year, it borrowed about 1.6 trillion won from NH Investment & Securities in the form of a bridge loan for a public offering, repaying 1 trillion won of that amount and converting the remaining 600 billion won into a stock collateral loan.
According to the investment banking (IB) industry on the 20th, Korea Enterprise Investment Holdings, a special purpose company (SPC) established by MBK Partners to acquire Korea Zinc, entered into a stock collateral loan agreement with NH Investment & Securities on the 13th for 600 billion won.
The contract period is until May 13, 2026. The interest rate is 6.2%. All shares of Korea Zinc held by Korea Enterprise Investment Holdings (1,676,231 shares) were provided as collateral.
Previously, in October last year, MBK Partners borrowed 1.5785 trillion won from lead manager NH Investment & Securities to prepare funds for acquiring Korea Zinc. The maturity was set at 9 months, and the interest rate was set at 5.7%.
As the maturity of that loan is approaching in July, MBK Partners repaid 1 trillion won by making a capital call from the 6th blind fund. The remaining 600 billion won was converted into a term loan before the maturity this time.