[Korea Selected financial newspaper reporters] hung a "conditional agreement" hagetdaneun commercial banks to participate in the debt restructuring support should be successful in sachaegwonja rally in the corporate bond investors Daewoo Shipbuilding.
According to the financial industry, 29, treated the largest shareholder and main creditor bank, Industrial Bank of Korea is coming, so I decided to get involved in the details of the agreement that Daewoo Shipbuilding and debt restructuring from the banks up to 30 days.
Switch-owned commercial banks are the Daewoo Shipbuilding and unsecured debt of 80% of 700 billion won (560 billion won), and the remaining 20% of the state receiving the request to postpone the maturity to five years.
Also banks agreed nowhere Daewoo Shipbuilding stand the advance refund Guarantee (RG) to $ 5 billion when the new order.
Just before the last 27 days held some commercial banks in the creditors meeting it is reportedly also raised the demand that this be additional Potato Development Bank prior to the debt-for-equity swap. KDB is interpreted as, but reportedly rejected the possibility of emphasizing chaekimron to treat major shareholder of Industrial Bank of Korea officially. In particular, the discussions also reportedly include such information in internal meetings in the last 28 days yirwojin pension estimated to have a 43% (190 billion won) for about 21 days in the month due DSME bonds 440 billion won.
With a 360-degree debt restructuring is a prerequisite for DSME further support this analysis emerges that entered the "game of chicken" between the creditors. Banks because they should be sachaegwonja also close the debt restructuring and the entry must agree to follow after the debt restructuring, a national bank to be benefit greatly in size to 2.9 trillion won new funding.
When you eventually fail to debt restructuring are placed under statutory management (corporate recovery procedure) a type of "pre-packaged Plan (P- plan), entered the creditors are forced further adjustment of the Court in the context you need to take a large share of the losses.
In the case of advance payment refund Development Bank and the Export-Import Bank of the warranty 2 (RG), respectively trillion won, it holds by 7 trillion won when the plan will go to P- contract cancellations due to the strike of the owners is expected. Export-Import Bank of the government's support is indispensable for the immediate capital soundness.
The government is pressing aspects which said debt restructuring is the best way to lose a minimum. P- plan creditors and sachaegwonja during rush are all put an end to the 7-10% level of recovery of the principal.
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