NEW YORK, July 9, 2015 (GLOBE NEWSWIRE) -- INTL FCStone Financial Inc. today announced that the investment banking group of its Broker-Dealer Division acted as the exclusive financial adviser, together with Hyundai Securities of South Korea, to Hyundai Merchant Marine Co., Ltd ("HMM") in arranging $155 million of debt facilities for Hyundai Merchant Marine (America), Inc. ("HMMA"), a wholly owned subsidiary of HMM, with funds and accounts managed by affiliates of Apollo Capital Management, LLC ("Apollo") on June 25th, 2015.
HMM is a leading global shipping company headquartered in South Korea with business operations in dry, wet bulk and container shipping services, and marine terminals. HMMA's terminals at the Port of Los Angeles and the Port of Tacoma in the U.S. were the direct counterparties in the financing.
Choong Hyun Kim, the head of restructuring at HMM, said, "This transaction provides timely liquidity to HMM and helps us navigate through our restructuring process. We are most pleased to have established a relationship with Apollo, which is a leading institutional lender to the maritime industry. INTL FCStone played a pivotal role in arranging the transactions and provided industry knowledge, global relationships with institutional investors, and deal making skills."
Matthew Yoon, Managing Director of INTL FCStone's investment banking activities in East Asia, said, "This financing lays the foundation for HMMA to transform itself from a cost center to a profit center operation in concert with an institutional investor and will help HMMA further institutionalize its business."
About INTL FCStone Inc.
INTL FCStone Inc. (NASDAQ:INTL), including its subsidiaries, is a leader in the development of specialized financial services in commodities, securities, global payments, foreign exchange and other markets. Our revenues are derived primarily from financial products and advisory services that fulfill our clients' real needs and provide bottom-line benefits to their businesses. We create added value for our clients by providing access to global financial markets using our industry and financial expertise, deep partner and network relationships, insight and guidance, and integrity and transparency. Our client-first approach engenders trust, and has enabled us to establish leadership positions in a number of complex fields in financial markets around the world. INTL FCStone Financial Inc. is a wholly owned subsidiary of INTL FCStone Inc. and a member of FINRA/MSRB/SIPC.
Further information on INTL is available at www.intlfcstone.com.