Representing the arranger and finance parties, Kim & Chang  advised on an acquisition financing in connection with the Affinity Equity Partner’s acquisition of minority interests in Shinhan Financial Group.

Because the common shares issued by Shinhan Financial Group, which accounted for the majority of the collateral value, are subject to mandatory retention and are thus restricted from creating security interest thereof for one year after the drawdown date, we used an innovative structure in order to secure a security interest for the lenders.