Homeplus, Additional Repayment of 51.5 Billion Won from Meritz Securities Loan Early Repayment

[Financial News] Homeplus announced on the 20th that following the completion of the sale of the Sillae branch, which was in progress before the commencement of rehabilitation procedures, on July 15, an additional 51.5 billion won of the Meritz loan early repayment was made with the sale balance. It is expected that the ongoing pre-approval M&A will gain momentum as the total size of rehabilitation claims decreases through the early repayment of the Meritz loan. 
This early repayment of the Meritz loan was carried out after obtaining prior approval from the court for early repayment of rehabilitation claims. 
At a press conference held in March, Kwang-il Kim, Vice Chairman of Homeplus, responded to a reporter's question asking if the reason for applying for corporate rehabilitation was the burden of early repayment of the Meritz loan due to the early repayment clause, saying, "Out of the total 250 billion won of Meritz early repayment, 85 billion won has already been repaid, and additional repayments will be made once the ongoing real estate sale contract is concluded before the rehabilitation application," and "The financial plan for the Meritz early repayment is already fully prepared, so there is no problem with the repayment."
With the partial early repayment of the loan, the remaining balance of the Meritz loan has been reduced to approximately 1.1 trillion won, and the total amount of rehabilitation claims has also decreased by this repayment amount.
A Homeplus representative explained, "It is significant as it is the first case of repayment of financial claims rather than trade claims."

wonder@fnnews.com Sanghee Jeong Reporter