이 누리집은 대한민국 공식 전자정부 누리집입니다.

한상넷

비즈니스 정보

Biz News Korea(Eng)

Korea’s financial firms to provide $150 mn acquisition financing to Ping An

Collected: 2016.09.01

Distributed: 2016.09.02

Source: Go Direct

South Korea’s financial institutions including NH Investment & Securities Co. and Shinhan Investment Corp. will be providing $150 million acquisition financing service to a consortium led by Ping An Insurance Group Company of China in its investment in the U.S-based skin care and nutritional product maker Nu Skin Enterprises Inc. It is the first time for Korean financial firms to offer acquisition financing service for a transaction between foreign companies.

According to investment bank industry sources on Wednesday, NH Investment & Securities and Shinhan Investment entered an agreement with the investment group led by Ping An Insurance to provide $150 million as a part of financing for the consortium’s acquisition of Nu Skin’s convertible bonds. Two large-sized institutional investors will participate as the major investors while the brokers NH Investment & Securities and Shinhan Investment will also take part in the deal as investors.

The local institutional investors are promised of near 5-percent returns by participating in the acquisition financing project. The investment is considered to carry low risk as the loans are collateralized by Nu Skin’s convertible bonds.

Nu Skin is a New York Exchange-listed globally operating cosmetics and nutritional product maker with market capitalization of $320 million. It has sales network across the globe and also runs a subsidiary in Korea.

The American cosmetics firm decided to issue $210 million convertible bonds to the investment consortium led by Ping An Insurance in a move to expand its business in China and to form strategic alliance with Chinese companies.

By Kim Hyo-hye

List

Previous: Korea Post to acquire Natixis’ HQ building in Paris for $21 mn

Next: Mirae Asset ABS backed by Vietnamese building under scrutiny for sale misconduct