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BRIEF-Rizal Commercial Banking Clarifies On Loan Exposure To Hanjin Heavy Industries & Construction Philippines

Published 06/26/2019, 01:14 PM
Updated 06/26/2019, 01:20 PM
BRIEF-Rizal Commercial Banking Clarifies On Loan Exposure To Hanjin Heavy Industries & Construction Philippines

June 26 (Reuters) - Rizal Commercial Banking Corp RCB.PS :
* CONFIRMS BANKS CONVERTED PART OF LOAN EXPOSURE TO HANJIN
HEAVY
INDUSTRIES & CONSTRUCTION PHILIPPINES TO EQUITY IN ITS PARENT
* CONFIRMS CONCERNED PHILIPPINE CREDITORS TRANSFERRED $149
MILLION
OUT OF $412 MILLION LOAN EXPOSURE FOR 20% STAKE IN SOUTH KOREAN
FIRM
* BANKS ALSO PLAN TO RECOVER LOAN EXPOSURE TO HANJIN VIA
SALE OF
HANJIN'S SHIPYARD FACILITY IN SUBIC TO INTERESTED FIRMS
* WAITING FOR AN OFFER FROM A CONSORTIUM TO ACQUIRE HANJIN'S
SHIPYARD IN SUBIC FROM BANKS
* IN SECOND HALF OF YEAR, CO INTENDS TO RETURN TO OFFSHORE
BOND
MARKET WITH POSSIBLE $300 MILLION OFFERING
* IN SECOND HALF OF YEAR, CO INTENDS TO TAP LOCAL MARKET
WITH A 5
BILLION PESO OFFERING

Source text for Eikon: ID:nPSXb0YWCQ
Further company coverage: RCB.PS

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