|
|
Article: DAEWOO INT'L, DOOSAN HEAVY AGREE ON DEBT RESCHEDULING.
- Article from:
- AsiaPulse News
- Article date:
- April 29, 2002
CopyrightCOPYRIGHT 2002 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
SEOUL, April 29 Asia Pulse - Doosan Heavy Industries agreed to reschedule the debts of Daewoo International and Daewoo Construction by converting some of the 123.3 billion won (US$95.06 million) worth of bonds issued by the defunct Daewoo Corp. into equity investments.
Both Daewoo International and Daewoo Construction Co. are offshoots of the bankrupt Daewoo Corp., and Doosan Heavy Industries, which still holds the Daewoo bonds, had been trying to recover the debts.
According to the debt rescheduling, Daewoo International will pay ...