Deals
Hanjin Shipping to Raise 410 Billion Won From Sale of Assets
- Company to seek restructuring of bonds sold to individuals
- Korea Development Bank asks for more detailed reform plan
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Hanjin Shipping Co., South Korea’s biggest container carrier, plans to raise about 410 billion won ($357 million) selling assets amid a debt revamp as a prolonged industry slump and low freight rates weigh on earnings.
The company proposes to sell its stakes in its bulk-shipping and other units as well as some property and brand rights, it said in an e-mailed statement Monday. It will also seek to restructure its ship financing debt and bonds sold to individual investors.