ID :
41477
Mon, 01/19/2009 - 14:14
Auther :
Shortlink :
https://www.oananews.org//node/41477
The shortlink copeid
STX's Norway unit to issue US$86 mln in bonds
SEOUL, Jan. 19 (Yonhap) - STX Group, a mid-sized conglomerate in South Korea, said Monday its Norwegian subsidiary will sell US$86 million worth of bonds to help bolster the group's financial health.
STX Norway AS will issue the floating-rate bonds and sell them wholly to Standard
Chartered Bank in Singapore, the group said, without disclosing the debt's
maturity.
The money will be used to raise STX Norway's 98.3-percent stake in STX Europe ASA
to 100 percent and pay back maturing debts of STX Shipbuilding Co., the group
said.
A group official said the bond issuance will help strengthen its financial
stability further.
STX Group owns STX Shipbuilding Co., the world's fifth-largest shipyard, and
South Korea's top bulk carrier STX Pan Ocean Co.
pbr@yna.co.kr
(END)
STX Norway AS will issue the floating-rate bonds and sell them wholly to Standard
Chartered Bank in Singapore, the group said, without disclosing the debt's
maturity.
The money will be used to raise STX Norway's 98.3-percent stake in STX Europe ASA
to 100 percent and pay back maturing debts of STX Shipbuilding Co., the group
said.
A group official said the bond issuance will help strengthen its financial
stability further.
STX Group owns STX Shipbuilding Co., the world's fifth-largest shipyard, and
South Korea's top bulk carrier STX Pan Ocean Co.
pbr@yna.co.kr
(END)
