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FINWIRES

Hanwha Pledges Affiliate Shares as Project Financing Loan Collateral

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Hanwha (KRX:000880) has provided its shares in affiliate Asan Baebang Development as collateral to secure the affiliate's project financing loan from a consortium of lenders, according to a bourse filing on Tuesday.

The collateral covers the full loan amount of 305.8 billion won, with a collateral limit set at 120% of the loan, or 366.96 billion won, according to a bourse filing on Tuesday.

The pledge will remain in effect from the initial drawdown date until the full repayment of the loan, expected to be 24 months.

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