STX Offshore & Shipbuilding to Get Increased Bale-Out
Citing officials at the main creditors, Korea Development Bank, Yonhap say that more than 75 percent of other creditors approved the rescue measures including 1.8 trillion won (US$1.69 billion) in liquidity supply for STX Offshore & Shipbuilding.
The rescue measures also include a debt-to-equity swap worth around 1.3 trillion won. The total cash offering would amount to 4.5 trillion won when previously pledged liquidity injection is also included.
Source: Yonhap News Agency