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[Apha Biz=(Chicago) Reporter Paul Lee] Lotte Engineering & Construction will repay 61 billion won worth of general corporate bonds (SB) in cash, which expires on the 14th.
According to the Korea Securities Depository's Securities Information Portal, Lotte E&C plans to repay KRW 61 billion worth of corporate bonds in cash without issuing public bonds for refinancing.
"Currently, (Lotte E&C) is planning to repay cash in the case of corporate bonds, not loans," a Lotte E&C official said. "There are enough funds available."
The financial structure of Lotte Engineering & Construction has improved in the past six months. As of the end of the first half of this year, the total amount of borrowing decreased by more than 1 trillion won compared to the end of last year, and the reduction rate is 27%.
In particular, short-term borrowing and liquid growth debt decreased by 1 trillion won (38%) during the same period. The debt ratio fell from 265% at the end of last year to 228% in the first half of this year.
Cash flow has more than doubled. At the end of the first half of this year, cash and cashable assets amounted to 1.8886 trillion won, up 216% from the end of last year (598 billion won).
AlphaBIZ 폴 리(hoondork1977@alphabiz.co.kr)
