KDB, Eximbank to support additional $410 million to Doosan Heavy Industries & Construction
KDB, Eximbank to support additional $410 million to Doosan Heavy Industries & Construction
  • Lee Jun-sung
  • 승인 2020.04.28 11:01
  • 댓글 0
이 기사를 공유합니다

Korea Development Bank (KDB) and the Export-Import Bank of Korea (Korea Eximbank)  will provide additional funds to Doosan Heavy Industries & Construction, which is in a management crisis.

An official of the creditors said on April 27 that additional financial support will be provided based on the self-rescue plan submitted by Doosan Group.

After the state-run banks' emergency financial support for Doosan Heavy Industries & Construction late last month, Doosan Group submitted a plan to creditors on April 13 to improve the financial structure of the ailing company.

Earlier, KDB and Eximbank lent 1 trillion won (some $0.8 billion) to Doosan Heavy Industries & Construction on March 27 and provided a total of 1.6 trillion won ($1.3 billion) worth of support, including the conversion of 586.8 billion won ($480.9 million) in foreign currency bonds into loans on April 21.

As of the end of last year, however, among 4.9 trillion won ($4 billion) in loans borrowed by Doosan, 4.2 trillion won will be matured this year. It will also have to repay 500 billion won worth of bonds with warrant (BW) next month.

To that end, Doosan Heavy plans to repay around 400 billion won ($328 million) with its cashable assets, while creditors are also seen as offering at least 500 billion won ($410 million) in fresh loans.

삭제한 댓글은 다시 복구할 수 없습니다.
그래도 삭제하시겠습니까?
댓글 0
계정을 선택하시면 로그인·계정인증을 통해
댓글을 남기실 수 있습니다.

  • #1206, 36-4 Yeouido-dong, Yeongdeungpo-gu, Seoul, Korea(Postal Code 07331)
  • 서울특별시 영등포구 여의도동 36-4 (국제금융로8길 34) / 오륜빌딩 1206호
  • URL: www.koreaittimes.com / m.koreaittimes.com. Editorial Div. 02-578-0434 / 010-2442-9446. Email: info@koreaittimes.com.
  • Publisher: Monica Younsoo Chung. Chief Editorial Writer: Kim Hyoung-joong. CEO: Lee Kap-soo. Editor: Jung Yeon-jin.
  • Juvenile Protection Manager: Yeon Choul-woong. IT Times Canada: Willow St. Vancouver BC, Canada / 070-7008-0005.
  • Copyright(C) Korea IT Times, Allrights reserved.