SC Lowy acted as lead investor and exclusive restructuring advisor to Korea Line Corporation

Hong Kong – 10 January 2013 – SC Lowy, today announced the completion of a US$85 million financing for Korea Line Corporation, a major Korea-based marine transportation services company. It is the first debtor-in-possession financing of its kind in Korea. SC Lowy was the exclusive advisor on the restructuring that involved the negotiation, execution, and settlement of multiple charter claims from international counterparties against the Company.

The combination of restructuring advisory work and financing enabled Korea Line Corporation to reposition itself for long term viable growth and a possible strategic partnership.

“This was an ambitious transaction given the challenges facing the shipping industry, the different classes of trade creditors, as well as the multiple locations of those many creditors. However, we were able to transform and reposition the Company to deliver considerable benefits to employees, shareholders and creditors,” said Soo Cheon Lee, Chief Investment Officer of SC Lowy.

“SC Lowy demonstrated a determination to find a solution for the Company. SC Lowy’s efforts working with the Company to analyze the financial and operation situation, structuring a sustainable plan and executing effectively a complex financing were the key to putting the Company on solid footing for the future,” said Mr. CB Kim, Chief Financial Officer of Korea Line Corporation.

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