[Asia Economy Reporter Lee Jung-yoon] Namgwang Construction announced on the 29th that it has decided to provide a debt guarantee of 8.97 billion KRW to Geuma C&D.
This corresponds to 10.22% of its equity capital.
Additionally, Namgwang Construction also announced on the same day that it has decided to lend 8.4 billion KRW to Geuma C&D.
This amount corresponds to 9.57% of its equity capital, and the purpose of the loan is to repay the principal and interest of the developer loan under the ABL loan agreement related to the new construction of the residential-commercial complex at 66-2, Mojun-dong, Mungyeong, as well as to fund the project.
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