Textile Industry News Sample

Jun 13, 2002 21:44:22

KABUL LTD.: Creditors Seek $198M Debt-equity Swap

SOUTH KOREA (SunStream News) -- Creditors of fabric manufacturer Kabul Ltd. are seeking to swap KRW188.7 billion of secured debt and KRW54.7 billion of unsecured debt into equity as part of measures to keep the company afloat, the Korea Herald reports. Creditor banks have already converted 1 trillion won of Kabul's debt into equity. Audit results showed Kabul's liquidation value is 60 billion won higher than its value as a going concern at the moment, but the company's value is estimated to increase to 227.6 billion won in 2006. (TROUBLED COMPANY REPORTER - ASIA PACIFIC, Vol. No. 5, Issue No. 116, June 13, 2002)

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Source: M&A Reporter - Asia Pacific

Publication Date: 2002-06-14

 

NWS:	TNM
	FNC

IND:	TEX

GEO:	a-ko

 

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