Seoul, Korea, July 30, 2002
hynix Semiconductor Inc. (www.hynix.com), the third largest DRAM chipmaker, announced that its cash flow plan would have no failure in repaying the matured debenture that KDB (Korea Development Bank) owned. “The creditor council is negotiating to settle whether the matured KRW 56 billion debenture is included in the financial restructuring package made on Oct. 31 last year. We will follow the result of the discussion.” a spokesman of hynix said. “The case is not a matter that can affect our cashflow and debt repayment schedule.” On Oct. 31 last year, creditors agreed on a financial restructuring package for the chipmaker, under which KRW 3 trillion was converted into capital via debt-for-equity swap while they wrote-off KRW 1.4 trillion in debt, and rolled over other existing loans.
