Doosan raises more money for acquisition of Bobcat

Home > Business > Industry

print dictionary print

Doosan raises more money for acquisition of Bobcat

Doosan Infracore said yesterday that it has completed a refinancing plan for its acquisition of U.S.-based Bobcat under which it will raise a total of $2.2 billion through loans and debt sales. Doosan Infracore borrowed some $2.9 billion from investors to finance its takeover of the U.S.-based construction equipment maker in November 2007.

According to Doosan, it will raise $1.72 billion from banks including the state-run Korea Development Bank, with the remaining amount to be financed with bond sales. The maturities of the debts will be extended to between 2015 and 2017, from the current 2012-2014, Doosan Infracore said.

“We took pre-emptive measures before maturity as market uncertainties are feared to increase costs,” Doosan Infracore said.

More in Industry

Buffet restaurants adapt to pandemic by nixing the buffets

Sale of Doosan Infracore stake could be opportunity for Hyundai Heavy

Volvo XC60 ranks No. 1 for residual value in Encar study

Binggrae to scoop up ice cream competitor after FTC approves merger

LG accepting orders for rollable, $85K television

Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
lock icon

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

Standards Board Policy (0/250자)

What’s Popular Now