nature of the investment
MKIF has invested into Kwangju Beltway Investment Co., Ltd. (KBICL), the concessionaire of Gwangju Second Beltway, Section 1, in the form of equity, senior loans, subordinated loans and a working capital facility. MKIF is a 100.0% shareholder of KBICL, and has committed to provide senior loans of KRW142.0 billion, subordinated loans of KRW32.0 billion, and a working capital facility of KRW3.2 billion. MKIF's total investment in KBICL is KRW190.3 billion.
Length: 5.6 km
Capacity: 6 lanes in both directions
Toll rate: KRW 1,200 - small vehicles
Government authority: Gwangju City Government
Concession term: 28 years (20 years remaining)
Guarantee duration: 28 years
Concession term commencement: January 2001
Minimum Guarantee: 85% of annual CA projected revenue
Revenue Cap: 115% of annual CA projected revenue