Hanaro Telecom

In a relatively uninspiring year in the Asian syndicated loan markets JP Morgan and DBS were able to bring a $600 million equivalent TMT financing to the market for Hanaro Telecom. The deal was noticeable from the outset as it became the first deal in Asia to be awarded following a proxy bid. Sponsors AIG and Newbridge gained the necessary shareholder support over a rival group containing LG, supported by Citibank, on October 21. The financing package totals $1.1 billion and includes a $450 million to $500 million equity injection from the sponsors. The loan is split between a W660 billion portion available in US dollars and Korean Won and...

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