Shinhan Financial Group's GIB business division said on Dec. 22 that it has successfully completed an IB deal worth a total of $280 million related to the purchase of the Amazon Logistics Center in the U.S.
Shinhan GIB's business division and Aegis Asset Management formed a consortium to purchase a logistics center under construction in New Mexico.
They set up a stable profit base through a long-term lease to Amazon for up to 45 years (at least 20 years) from September next year when the building was completed. Of the $280 million deal, Shinhan Bank arranged a $188 million senior loan.
In particular, this deal is the first case of a domestic financial company trading directly with Amazon, and Shinhan Financial plans to build a friendly relationship with Amazon and continue to make deals using this deal.
"We have achieved meaningful results through organic cooperation in the GIB business sector even in the face of difficult investment environments at home and abroad due to COVID-19," a Shinhan Financial Group official said.
He added, "We will continue to make efforts to become a global financial group by diversifying profitability such as exploring new global markets and finding good IB deals."
