SK Energy talks to bond holders about restructuring

05 Oct 2010

Korean oil refiner SK Energy is planning to spin off two of its core businesses into subsidiaries and approached bond investors on Tuesday for consent.

The company has offered investors in its $750m of outstanding bonds — split between a $300m 2011 note and a $450m 2013 deal — for consent to spin off its refining and marketing, and petrochemicals businesses. These will take some of the parent company’s debt with them but ...

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