GM Daewoo Will Repay Outstanding KRW 1.126 Trillion Revolving Credit Facility with Korea Development Bank

- Improved financial performance of company triggers decision

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2010-12-01 13:18

Seoul--(뉴스와이어)--GM Daewoo Auto & Technology (GM Daewoo) announced today that it will fully repay the outstanding KRW 1.126 Trillion borrowing under its revolving credit facility with the Korea Development Bank (KDB). The facility will be subsequently terminated during December.

“This action reflects GM Daewoo’s strong financial performance this year enabling us to make full payment on the outstanding facility,” said Mike Arcamone, President and CEO of GM Daewoo. “Full repayment of the credit facility will decrease the company’s future borrowing costs.”

GM Daewoo also reiterated today its intent on continuing to discuss other issues raised by the KDB, its second largest shareholder.

웹사이트: http://media.gm-korea.co.kr