KKR draws $350m from Korean bank as Oriental LBO flies

25 May 2009

One South Korean lender has pledged to fund almost half of the $760m senior debt supporting Kohlberg Kravis Roberts’ buy-out of Korea’s Oriental Brewery, guaranteeing a successful syndication in a rare display of confidence in Asia’s struggling leveraged finance industry.

Hana Bank is set to confirm a $350m commitment to later this week, bankers told EuroWeek on Monday, bringing the syndicate of senior lenders to 10.

Hana’s involvement would be an immediate success for what is the biggest leveraged buy-out of the year in the Asia Pacific region, ...

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