Investments
1
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Latest MERITZ Capital News
Jan 7, 2023
Lotte E&C to Set up KRW1.5tn Fund with Meritz Securities Share Lotte E&C to Set up KRW1.5tn Fund with Meritz Securities By Jung Min-hee × Lotte E&C will set up a joint fund worth 1.5 trillion won with Meritz Securities to ease its liquidity crunch. Lotte E&C will set up a joint fund worth 1.5 trillion won with Meritz Securities in a bid to get out of its liquidity crunch, the company announced on Jan. 6. Lotte E&C will sign an agreement on fund establishment with Meritz Securities on Jan. 9. Lotte Group's major affiliates, including Lotte Property & Development, Lotte Hotel and Lotte Fine Chemical will invest about 600 billion won in the fund as subordinated creditors and Meritz Financial Group affiliates such as Meritz Securities, Meritz Fire & Marine Insurance, and Meritz Capital, will invest the remaining 900 billion won as senior creditors. The two sides are planning to use the raised funds to buy maturing asset-backed commercial papers (ABCPs) guaranteed by Lotte E&C, thereby giving the liquidity-strapped builder some room to breathe. Lotte E&C previously received 1.1 trillion won from major Lotte Group affiliates, including Lotte Chemical (500 billion won), Lotte Fine Chemical (300 billion won), and Lotte Home Shopping (100 billion won) to redeem maturing ABCPs. Lotte E&C repaid funds borrowed from Lotte Fine Chemical and Lotte Home Shopping ahead of schedule in December 2022. If the builder repays Lotte Chemical funds on this day, it will repay all the borrowed money from Lotte Group affiliates. “We believe that Lotte E&C currently has enough liquidity to calm concerns caused by a temporary financial market crunch in 2022,” a Meritz Securities official said. “We look forward to seeing our partnership with Lotte E&C further solidified.” POPULAR
MERITZ Capital Investments
1 Investments
MERITZ Capital has made 1 investments. Their latest investment was in MetaFines as part of their Series B on April 4, 2022.
MERITZ Capital Investments Activity
Date | Round | Company | Amount | New? | Co-Investors | Sources |
|---|---|---|---|---|---|---|
4/28/2022 | Series B | MetaFines | $15.72M | Yes | 1 |
Date | 4/28/2022 |
|---|---|
Round | Series B |
Company | MetaFines |
Amount | $15.72M |
New? | Yes |
Co-Investors | |
Sources | 1 |
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