Korea’s Homeplus, Meritz Tussle Over $67 Million Loan Terms

South Korean retailer Homeplus Co. is objecting to a condition tied to a roughly 100 billion won ($67 million) bridge loan from its largest creditor Meritz Financial Group, placing the emergency funding at risk.

Executives from the retailer and its owner MBK Partners can’t provide personal guarantees because they have already provided joint assurances to other funding support, Homeplus said in a statement on Monday. Instead, the company said it can offer a pledge of subordinated rights related to its real estate holdings.