INTL FCStone gets additional commitment from Korea Development Bank

By Marisa Wong

Madison, Wis., May 23 - INTL FCStone Inc. announced that it received a $10 million commitment from Korea Development Bank, New York Branch, that will increase its existing syndicated loan to $95 million from $85 million.

The addition of Korea Development Bank to the syndicate was arranged by INTL Provident Group USA, the investment banking division of INTL FCStone's wholly owned subsidiary, INTL Trading, Inc.

"We are very pleased to welcome our first Asia-based lending partner, Korea Development Bank, into this facility and believe this opens an excellent opportunity for the bank, our company and our customers," Sean O'Connor, the company's chief executive officer, said in a news release.

Loan proceeds will be used to finance INTL FCStone's working capital requirements.

The facility was originally arranged by Bank of America Securities, LLC. Other lenders include Bank of America, NA, Rabobank Nederland, New York Branch, Capital One, NA and Macquarie Bank Ltd.

Based in New York, INTL FCStone Inc. provides execution and advisory services in commodities, currencies and international securities.

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