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CREDITORS AGREE TO BAILOUT PACKAGE FOR KOREA'S HYNIX.
SEOUL, Nov 1 Asia Pulse - Creditors of Hynix Semiconductor Inc. agreed yesterday to a bailout package for the troubled chipmaker to get out of the liquidity crunch.
Under the agreement, six banks - Korea Development, Hanvit, Chohung, Korea Exchange, Citibank and NACF - will provide fresh loans totaling 650 billion won (US$502.4 million) to the company.
Eight banks not participating in the provision of fresh loans, including Kookmin and Housing and Commercial, will write off the company's debt at the liquidation value for ...
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Source: HighBeam Research, CREDITORS AGREE TO BAILOUT PACKAGE FOR KOREA'S HYNIX.