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KEB Hana Bank arranges $148 mn syndicated loan for Korean auto firm’s Morocco biz

Collected: 2018.03.07

Distributed: 2018.03.08

Source: Go Direct

[Photo provided by KEB Hana Bank]

South Korea’s KEB Hana Bank has successfully arranged a syndicated loan in 120 million euros ($148 million) for Korean auto part maker Hands Corporation to finance construction of production lines in Morocco, the bank said on Tuesday.

KEB Hana Bank said it made the first case for a Korean commercial bank to pull together loans in a seven-year maturity from a pool of six lenders including itself and China Construction Bank and Bank of China. The bank put up $37 million.

The Korean bank has been trying to establish its name in the investment bank market at home and abroad.

“We’ve carefully assessed the business value to bring positive results, and we’ll keep up efforts to provide the best financing solution for promising local small and mid-sized enterprises,” said an official at KEB Hana Bank.

By Kim Dong-eun and Lee Ha-yeon

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