(MENAFN) S. Korea STX Offshore & Shipbuilding Co., will receive USD 385mn in financial help from its creditors in return for thorough building.
Accordingly, the creditors planned to save the shipbuilder from a liquidity shortage.
Moreover, local lenders' exposure to STX stood at USD 0.0036mn at the end of Sep, with KDB alone extending the hugest amount of loans, counting USD 0.0015mn.
In addition, the creditors provided more than USD 0.0034mn to the shipyard, but it is still reeling from losses, while last year, the shipyard suffered operating losses of USD 0.26mn.
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