Daewoo Shipbuilding gets nod from bondholders for debt rescheduling, set to receive fresh financing
Apr 18, 2017
Embattled Daewoo Shipbuilding & Marine Engineering Co. on Tuesday got the nod from its investors who hold some 1.3 trillion won ($1.14 billion) worth of bonds, paving the way for the troubled shipyard to receive a fresh cash injection from its creditors.Earlier in the day, investors with some 410 billion won approved the debt rescheduling proposal drawn up by the shipyard's creditors. On Monday, holders of some 940 billion won worth of Daewoo Shipbuilding bonds also agreed to the debt rescheduli