Daewoo Shipbuilding & Marine Engineering has kicked off a KRW 500bn ($461m) bond run, by issuing the paper in two separate batches with three-year and five-year maturity.
Sources said that the Korean shipbuilder has recently started supervisor selection.
Daewoo is said to use raised funds for repayment of short-term debt and working capital.
If Daewoo succeed to issue bonds this time, then Daewoo would secure a total of KRW 1trn from bond market this year.
As orders for offshore plant, mostly contracted in heavy-tail payment, increases, Daewoo seems to secure funds in advance.
Published : November 8, 2012
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