JPMorgan to launch first LBO financing of the year

JPMorgan will next week launch a $230 million syndicated loan for Haitai.

Steven Irvine

June 28, 2001

Market sources say JPMorgan will launch a syndicated financing for the Korean firm, Haitai. The mandate is all the sweeter for JPMorgan because a consortium that included JP's own private equity arm recently bought the confectionery company.

JPMorgan is to lead a $230 million acquisition financing for Haitai, a firm which has a leading 20% market share in the Korean confectionery business. Haitai was recently auctioned by ABN AMRO to a private equity consortium comprising JPMorgan Capital Partners, CVC and UBS Capital. The deal marks the first LBO financing of the year, and could set a trend for further deals from Korea.

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