South Korea’s Daewoo Shipbuilding unlocks $2.6 billion bailout after bondholder approval

Apr 18, 2017 | Bad Credit Loans, Bank Lending, Business Lending, Business Loans, Capital, Economics, Finance, Non-Bank Loans, Working Capital

SEOUL (Reuters) – South Korea’s Daewoo Shipbuilding & Marine Engineering Co Ltd has won near unanimous agreement from bondholders to swap their debt for equity, meeting a condition that unlocks a $2.6 billion bank bailout for the world’s biggest shipbuilder.