KDB

Creditors Bail out Hanjin Heavy Industries

The creditors of Hanjin Heavy Industries and Construction (HHIC), the financially troubled South Korean shipbuilder, are expected to receive compensation for unpaid loans in a debt-for-equity swap, which will leave them in control of the company. Korea Development Bank (KDB), the state-owned policy bank which holds the largest share of HHIC’s outstanding debt, said that the group of creditors have…