Hanaro set for $600 million loan

Home > Business > Industry

print dictionary print

Hanaro set for $600 million loan

Hanaro Telecom signed yesterday a contract for a 720 billion won ($600 million) syndicated loan from foreign and domestic banks, including JP Morgan & Co., Development Bank of Singapore and Korea Exchange Bank, according to telecommunications industry sources. The annual coupon rate was reportedly 6.4 percent. Of the total amount 660 billion won has a five-year maturity, and the remaining 60 billion won is working capital that Hanaro can repay at any time. Hanaro received $500 million from the AIG-Newbridge Capital consortium on Wednesday. With the syndicated loan and the capital increase, Hanaro is likely to invest in the high- speed Internet market and new businesses. Hanaro’s board of directors will decide whether to approve the contract today.
Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
s
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)