Missiles in Golf Course Hurt Lotte in China as It Plans Bonds
- Lotte Shopping plans about $300 million dollar bond offering
- Firm may adjust its China business if no changes by 1H 2017
Why a U.S. Missile Defense System Is Angering China
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A U.S. missile defense system placed in a South Korean golf course site is leading to pain for Lotte Shopping Co.’s China business, prompting the company to consider injecting more funds to support its operations there.
South Korea’s biggest department store operator already poured 360 billion won ($315 million) into its China business in March. It’s now considering raising funds via a dollar bond sale by a Hong Kong unit that would be guaranteed by the Export-Import Bank of Korea. A Lotte Shopping executive said the issuance amount would be about $300 million, part of which will be used to support its China operations.