Independent journal on economy and transport policy
01:37 GMT+2
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Hyundai Merchant Marine has obtained a delay of the maturity dates of part of the debit
oxygen Puff for the South Korean shipowning company
March 29, 2016
Hyundai Merchant Marine (HMM), than in recent months is fighting in order to ask for the failure being contracted the terms of the debit let alone of the engagements regarding the societies from which it has obtained ships rental, it has announced today that the green light of the council of the creditors has reached attended, guided from Korea Development Bank (KDB), to the plan of restructure of part of the debit of the South Korean shipowning group. KDB has confirmed that the creditors have granted a delay of three months, with beginning from today, of the expiration of the payment of the capital and the interests of the loans contracted from the marine company.
The total indebtedness of the shipowning group piles to beyond four billions of dollars, of which a quarter regarding financials institution guided from KDB and three quarters regarding general creditors.
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