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FINWIRES

Hanwha Secures Collateral from Affiliate for Construction Project

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Hanwha (KRX:000880) has received a third-priority beneficial interest in a real estate trust as collateral from its affiliate, Asan Baebang Development, following the execution of a new trust agreement under a refinancing arrangement.

The collateral, with a limit of 615.2 billion won and an outstanding amount of 512.7 billion won, is tied to a construction contract valued at 512.7 billion won signed in October 2021.

The collateral period runs for 24 months from the trust agreement date until the secured debt is fully repaid, according to a bourse filing on Tuesday.

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