Korea Investment & Securities New York IB Dedicated Corporation Leads Acquisition Financing for US Office Building

[Asia Economy Reporter Junho Hwang] Korea Investment & Securities, a subsidiary of Korea Financial Group, completed financing as the lead underwriter in an acquisition financing deal for a newly constructed office in Washington DC through its newly established IB-dedicated corporation in New York, KIS US, on the 30th.

KIS US led the $50 million (approximately 59.2 billion KRW) acquisition financing for Rockwood Capital, a U.S. real estate investment company, in acquiring the stake of the 665 New York Avenue building owned by global asset management firm Brookfield Property.

KIS US, established in January as an IB-dedicated corporation, achieved results within one year. Korea Investment & Securities is developing KIS US as a key hub responsible for deal sourcing to due diligence in global markets such as the U.S., focusing on ▲ mergers and acquisitions (M&A) ▲ alternative investments ▲ acquisition financing.

A representative from Korea Investment & Securities said, "We will strengthen our network with local top sponsors like Brookfield and, based on this, enhance the competitiveness of our IB desk in the U.S. to provide more customers with new investment opportunities."

Meanwhile, Korea Investment & Securities completed a $250 million (approximately 285.3 billion KRW) rights offering for the New York IB corporation in August. With capital expansion securing funds, the New York IB corporation plans to rapidly build a track record in various areas such as corporate acquisition financing and alternative investments.