Woongjin Energy debt restructuring

Overview:

• Woongjin Energy has undergone debt restructuring in the amount of W170 billion ($150 million).
• As the company could not fully repay its warrant bonds, and its FX bonds are due and payable in December 2015, it convened a meeting of bondholders to change the terms of said bonds.
• Woongjin Group has been struggling in recent years and Woongjin Holdings and its construction affiliate filed for a court restructuring programme back in 2012. 

Katrin Kostadinova - Data analyst