Hyundai Merchant Marine’s creditors agree to $570m debt-for-equity swap

Creditors of South Korean container-freight logistics provider Hyundai Merchant agreed to a debt-to-equity swap involving the company’s debt of KRW 680bn ($570m), according to lead creditor Korea Development Bank.

The agreement is contingent on conditions including Hyundai Merchant Marine joining an alliance involving major shipping firms.

Source: Reuters

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