NH to offer US$150m for China’s Ping An’s US investment

[THE INVESTOR] NH Investment Securities and Shinhan Investment are providing US$150 million acceptance financing to Ping An’s consortium for its investment in US skincare company Nu Skin Enterprises, according to news reports on Aug. 31.

This is the first time South Korean securities firms are providing acceptance financing for deals between foreign companies. The securities firms as well as two major institutional investors have participated in the financing with an expected 4 percent rate of return.

Ping An of China Securities, a subsidiary of leading Chinese insurer Ping An, has formed a consortium with a group of investors including ZQ Capital, and acquired convertible bonds worth US$210 million issued by the US company.

Nu Skin Enterprises is an international franchise that directly sells skincare and wellness products. It is listed on the New York Stock Exchange and its total market value is estimated to be US$3200 million.

By Hwang You-mee (glamazon@heraldcorp.com)