Daewoo Shipbuilding set to complete debt-for-equity swap with bondholders
Jul 7, 2017
Cash-strapped Daewoo Shipbuilding & Marine Engineering Co. is expected to secure at least 800 billion won ($692 million) in cash through additional debt-for-equity swaps, industry sources said Friday.According to the sources, Daewoo Shipbuilding is planning to start the process of swapping debts for equity with bondholders next month as the country's top court rejected an individual bondholder's suit against the 2.9 trillion-won debt rescheduling program drawn up by the shipyard's creditors. (Yo