Korean Air Participates in $551.1 Billion Capital Increase of Hanjin International in the US
Korean Air announced on the 17th that it will participate in a paid-in capital increase worth 551.1 billion KRW conducted by its U.S.-based hotel subsidiary, Hanjin International (HIC). Accordingly, Korean Air will acquire 231.21 million shares issued by HIC at 2,383 KRW per share. HIC will use the funds invested by Korean Air as loan payments to be made to Standard Chartered Bank. Korean Air stated, "We plan to use the funds raised through this capital increase to repay the entire loan early."
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