Hanjin Heavy Industries Said to Plan 250 Billion Won Three-Year Bond Sale

Hanjin Heavy Industries & Construction Co., a South Korean shipbuilder, plans to raise 250 billion won ($212 million) from a bond sale, according to a person with direct knowledge of the matter.

The three-year notes will pay a 5.6 percent coupon, said the person, who asked not to be named as he’s not authorized to speak to the media. The money will be used to repay maturing debt and fund facility investment, according to the person.

The company has 220 billion won of local currency- denominated bonds and loans due this year, according to data compiled by Bloomberg. Hanjin Heavy paid a 6.2 percent coupon when it sold 280 billion won in three-year notes on Feb. 12, the data show.

To contact the reporter on this story: Jungmin Hong in Seoul at jhong47@bloomberg.net.

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