After weeks of speculation the shipbuilder has secured KRW 2.15trillion ($1.95bn) in support to restructure existing debts, the Seoul-listedcompany announced today.
Under the ‘normalisation plan’ creditors have consented toprovide the cash through 2017 in support of main creditor Korea DevelopmentBank (KDB), local service Yonhap news said.
It means the company has secured a total of KRW 3 trillion inhelp having already received KRW 850bn in emergency funding earlier this year.
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