[Korea Selected financial newspaper reporters] were treated as secretary for financial guarantee for new orders in Naval Architecture and Ocean dual national bank and commercial banks.
Six days the banking industry, according to the creditor, and Daewoo Shipbuilding shareholder stood for and main creditor bank, Industrial Bank of advance refund Guarantee (RG) issued the first guarantee, then the banks two car when an accident to bridge the detriment of the Industrial Bank It agreed on a suit assurance (second guarantee) structure.
RG will have the assurance that the shipbuilders have already received advance payments from the Client if the Bank not later than the times to ask instead.
According to the 23rd month in additional support announced by the government and creditors of Daewoo Shipbuilding restructuring, commercial banks were required $ 500 million to Daewoo Shipbuilding and new RG issued. Industrial Bank (600 million US dollars), the Export-Import Bank (14 billion dollars), including but less than the Reserve Bank issued RG with whether or not to issue a bank contribution rates and RG which is the first "ping pong game" The great quality going communist.
The agreement with Korea Development Bank for the Client and RG issue is the contracting entity, the other banks were to stand as a guarantee for a percentage share amount. When forward Daewoo Shipbuilding orders ship Industrial Bank first issued the RG and banks takes on a secondary limit guaranteed by 500 million US dollars for it.
Meanwhile, the Industrial Bank is expected within yirwoji difficult long overdue, but needs to submit a Letter of Commitment hagetdaneun join like-equity swap of unsecured debt in banks, RG support from this week.
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