ID :
60390
Wed, 05/13/2009 - 15:26
Auther :
Shortlink :
https://oananews.org//node/60390
The shortlink copeid
Eland Group borrows US$50 mln abroad
SEOUL, May 13 (Yonhap) -- Eland Group, a South Korean retailer, said Wednesday
its affiliate has sold US$50 million worth of bonds in Hong Kong.
The dollar-denominated two-year bonds were priced at 800 basis points above the
three-month London Interbank Offered Rate, or Libor, the group said in a
statement.
Eland said the money will be used to repay debts and bolster its working capital.
In the statement, Eland Chief Financial Officer Park Byung-ki said the company
will continue to shore up liquidity by issuing debts overseas.
(END)
its affiliate has sold US$50 million worth of bonds in Hong Kong.
The dollar-denominated two-year bonds were priced at 800 basis points above the
three-month London Interbank Offered Rate, or Libor, the group said in a
statement.
Eland said the money will be used to repay debts and bolster its working capital.
In the statement, Eland Chief Financial Officer Park Byung-ki said the company
will continue to shore up liquidity by issuing debts overseas.
(END)
