Hyundai Division to Extend Debt
Hyundai Engineering & Construction Co. will begin talks next month to extend maturities and reduce interest rates on more than $900 million worth of bonds the builder has issued in foreign markets."Hyundai has designated a global consultant, Lazard, as lead manager to negotiate a debt readjustment with the builder's foreign lenders," an official at a creditor bank said Tuesday. "Hyundai will give a contract to Lazard this week."
According to creditors, Hyundai has issued $920 million worth of bonds in foreign markets. Foreign financial institutions hold a $660 million chunk of that total and local financial institutions hold the rest in convertible bonds and bonds with warrants.
with the Korea JoongAng Daily
To write comments, please log in to one of the accounts.
Standards Board Policy (0/250자)