DR & AJU advised Yuanta Securities Korea Co., Ltd. (“Client”) for the fourth bridge loan agreement related to the second phase of the Songdo Global Complex Development Project. This project includes the establishment of Yonsei University’s international campus and the expansion of the Songdo Global Complex within Incheon Metropolitan City through the development of profitable businesses. DR & AJU offered comprehensive legal advisory services, including the drafting of financial agreements, including loan agreement, and the review of the loan structure.
This large-scale bridge loan was processed during the financial market depression, amid ongoing concerns about poor project financing in the real estate market. Moreover, the collateral provided in this case, the claim for a refund of the sales price, is a future claim, adding complexity to the transaction. DR & AJU advised on the entire process for the loan agreement, where a total of KRW 510 billion was provided in bridge loans, with KRW 367 billion backed by the claim for a refund of the sales price as the main collateral. Our services included drafting the relevant financial documents, reviewing the loan structure, and responding to lenders’ inquiries.
