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SAEHAN CREDITOR BANKS AGREE TO US$311 MLN DEBT-FOR-EQUITY SWAP.
SEOUL, Dec 2 Asia Pulse - Saehan Industries Inc. (KSE:08000) said its creditor banks have agreed to a 400 billion won (US$311 million) worth of debt-for-equity swap to help the ailing company reduce the total amount of debt to 700 billion won.
The creditor banks also concurred that they will allow Saehan, which is under a government workout program, a two-year grace period for debt repayment.
They also decided to impose a 7.5 per cent ...
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Source: HighBeam Research, SAEHAN CREDITOR BANKS AGREE TO US$311 MLN DEBT-FOR-EQUITY SWAP.