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Lotte World Tower (photo = Lotte Holdings) |
[Alpha Biz= Reporter Kim Jisun] Lotte Holdings announced its decision to provide a capital support agreement for Lotte Biologics' 900 billion won loan from Hana Bank and Shinhan Bank on the 25th.
Lotte Biologics is 80% owned by Lotte Holdings and 20% by Japan’s Lotte Holdings. The loan was initially secured to fund the construction of Lotte Biologics' first bio-campus in Songdo, Incheon.
Under this agreement, Lotte Holdings will cover any shortfall in repayment resources for the loan's principal, interest, fees, and other associated financial costs in case of default. The guarantee period begins on November 27, 2024, and continues until the loan's final repayment date on November 28, 2031.
Lotte Holdings will receive a total of approximately 28.3 billion won in capital support fees from Lotte Biologics, distributed over the agreement's duration.
The support agreement will remain in effect from November 27, 2024, until November 28, 2031, when the loan is fully repaid. As part of the arrangement, Lotte Corporation will receive a replenishment fee of ₩28.31 billion, paid in installments over the contract period.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
