KB Kookmin Arranges Acquisition Financing Refinancing Totaling 1.09 Trillion Won

KB Kookmin Bank announced on the 5th that it has completed the refinancing arrangement for the acquisition financing of the U.S. silicon manufacturer 'Momentive,' amounting to 839 million dollars (approximately 1.09 trillion KRW).

This transaction is a refinancing of the Momentive acquisition financing by the KCC-SJL Partners consortium from May 2019. KB Kookmin Bank, which was the lead arranger of Momentive's initial acquisition financing, served as the lead arranger again and led the participation of refinancing by the Export-Import Bank of Korea, Hana Bank, NongHyup Bank, and Industrial Bank of Korea.

Notably, this refinancing was executed as acquisition financing with Momentive, based in the U.S., as the borrower. KB Kookmin Bank completed the syndicate formation with the Export-Import Bank of Korea, Hana Bank, NongHyup Bank, and Woori Bank’s overseas local branches through collaboration between its Investment Banking Division and New York IB unit.

KB Kookmin Bank led this refinancing by highly evaluating the characteristics of the silicon industry, which allows stable growth due to diversification of downstream industries, the improvement in Momentive’s business performance, and the synergy with strategic investor KCC.

Kang Soon-bae, Head of KB Kookmin Bank’s CIB Customer Group, said, “Despite the challenging financial environment, we successfully completed the refinancing of this cross-border deal based on our partnership with the client,” and added, “We will continue to strengthen KB Kookmin Bank’s CIB competitiveness based on the accumulated know-how in the acquisition financing market.”

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