KEB gives nod on bridge loan so SK can buy coal developer

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KEB gives nod on bridge loan so SK can buy coal developer

Korea Exchange Bank has agreed to supply SK Group with 150 million Australian dollars as a bridge loan to acquire Cockatoo, a company that spe-cializes in coal development. This is the largest bridge loan from a single overseas branch of a Korean bank.

The money will be used to buy a 40 percent share in Cockatoo. The Aus-tralian company is participating in 13 coal mine development projects in Queensland, New South Wales. Approximately 1.5 billion tons of coal are believed to be buried in the mines.

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