IHS Chemical Week

People & Business :: Earnings/Finance

Songwon's financial restructuring will help future growth

7:45 AM MST | February 19, 2013 | Natasha Alperowicz

Songwon Industrial (Ulsan, South Korea), a leading producer of polymer antioxidants, says it has raised loans, which will help it restructure its financials and secure future growth. The company has concluded an agreement with 5 lenders on Monday for a syndicated loan valued at 220 billion South Korean won ($203.6 million) with Korea Exchange Bank as the lead institution and Woori Bank as the joint lead.   Songwon says it aims to restructure its current finances by consolidating outstanding loans extended to it by several financial institutions through...

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