Hyosung Vina Chemicals cancels $1bn loan

Vietnam Hanoi 230px
By Pan Yue
04 May 2018

Hyosung Vina Chemicals, which launched a $1bn loan last month for capital expenditure related to chemical plants in Vietnam, has cancelled the fundraising. Its new Vietnamese unit is still pending the government’s approval for incorporation, according to a South Korea-based banker close to the deal.

The company launched the $1bn six year term loan on April 12, arranged by Export-Import Bank of Korea and Korea Development Bank. Hyosung Vina, the Vietnamese business unit under South Korean conglomerate Hyosung, planned to use the loan proceeds for capital expenditure for chemical plants in the ...

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