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Rode “Provides Rode World Tawi as collateral for adjustment of special contract with Rode Chemical”
Entered 2024.11.27 5.45 PM Modified 2024.11.27 5.45 PM
Driver
Reporter Seo Mi-seon
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Lotte World Tower, Korea’s highest landmark, is expected to be pledged as collateral for Lotte Chemical’s credit.
1. Lotte Chemical did not comply with the profitability-related indicators stipulated in the corporate bond special contract, raising doubts about its ability to repay corporate bonds.
-> Occurrence of loss of profits on deadline (EOD) under special provisions of private loan management contract
2. Accordingly, Lotte Group set up Lotte World Tower as bank notes to prove that it was possible to repay Lotte Chemical’s corporate bonds.
-> It was considered a bold financial action to inform the market that Lotte Chemical’s liquidity was safe.
3. Lotte World Tower is currently the best landmark in Korea, so there is no reason for banks to hesitate in taking collateral.
4. As a result, bank guarantees were added to Lotte Chemical’s corporate bonds, and as the credit of corporate bonds increased, the standards for special contract indicators were relaxed.
summation
Lotte Chemical’s corporate bonds, which were evaluated by the market as unstable, have become safe.
If you can’t pay it back, go to Lotte World Tower Daenggang.