DSME says it will repay maturing debt as scheduled

Ships are under construction at the Daewoo Shipbuilding & Marine Engineering Co. (DSME) shipyard in Geoje, South Korea, on Wednesday, April 22, 2009. Daewoo Shipbuilding & Marine Engineering Co. is the world's third-largest shipyard. Photographer: Seokyong Lee/Bloomberg News

Daewoo Shipbuilding & Marine Engineering Co. said Monday that it will be able to repay debts maturing next year as scheduled.

The shipbuilder said that 300 billion won ($257 million) in debt is due by April next year, with an additional 400 billion won set to mature in September.

“There will be no problem in repaying maturing debts next year, as we are set to deliver some 80 percent of offshore facilities worth $20 billion next year,” the company said.

The shipbuilder logged operating losses of 4.5 trillion won in the first three quarters, raising concerns that it may face a liquidity shortage.

Last month, its creditors, led by state-run Korea Development Bank, pledged to provide 4.2 trillion won worth of financial aid to the shipbuilder.

In return, Daewoo Shipbuilding is seeking to cut costs and sell some affiliates and its headquarters office building in Seoul, saving 1.85 trillion won in cash.

The shipyard paid back 300 billion won worth of debt last month, following the repayment of 200 billion won worth of debts in July.

Source: Yonhap

LEAVE A COMMENT

Comments (19)

… [Trackback]

[…] Read More here: shippingherald.com/dsme-says-will-repay-maturing-debt-scheduled/ […]

… [Trackback]

[…] Read More Infos here: shippingherald.com/dsme-says-will-repay-maturing-debt-scheduled/ […]

… [Trackback]

[…] Find More Informations here: shippingherald.com/dsme-says-will-repay-maturing-debt-scheduled/ […]

… [Trackback]

[…] Informations on that Topic: shippingherald.com/dsme-says-will-repay-maturing-debt-scheduled/ […]

… [Trackback]

[…] Read More here: shippingherald.com/dsme-says-will-repay-maturing-debt-scheduled/ […]

… [Trackback]

[…] Read More here: shippingherald.com/dsme-says-will-repay-maturing-debt-scheduled/ […]

… [Trackback]

[…] Read More: shippingherald.com/dsme-says-will-repay-maturing-debt-scheduled/ […]

… [Trackback]

[…] There you will find 77867 more Infos: shippingherald.com/dsme-says-will-repay-maturing-debt-scheduled/ […]

… [Trackback]

[…] Informations on that Topic: shippingherald.com/dsme-says-will-repay-maturing-debt-scheduled/ […]

… [Trackback]

[…] There you will find 76430 more Infos: shippingherald.com/dsme-says-will-repay-maturing-debt-scheduled/ […]

… [Trackback]

[…] Informations on that Topic: shippingherald.com/dsme-says-will-repay-maturing-debt-scheduled/ […]

… [Trackback]

[…] Find More Informations here: shippingherald.com/dsme-says-will-repay-maturing-debt-scheduled/ […]

… [Trackback]

[…] Read More: shippingherald.com/dsme-says-will-repay-maturing-debt-scheduled/ […]

… [Trackback]

[…] Read More Infos here: shippingherald.com/dsme-says-will-repay-maturing-debt-scheduled/ […]

… [Trackback]

[…] Read More: shippingherald.com/dsme-says-will-repay-maturing-debt-scheduled/ […]

… [Trackback]

[…] There you will find 34132 more Infos: shippingherald.com/dsme-says-will-repay-maturing-debt-scheduled/ […]

… [Trackback]

[…] Read More here: shippingherald.com/dsme-says-will-repay-maturing-debt-scheduled/ […]

… [Trackback]

[…] There you will find 91714 more Infos: shippingherald.com/dsme-says-will-repay-maturing-debt-scheduled/ […]

… [Trackback]

[…] Read More here|Read More|Find More Informations here|There you will find 29257 more Informations|Informations to that Topic: shippingherald.com/dsme-says-will-repay-maturing-debt-scheduled/ […]

×

Comments are closed.