Last checked at 26 Sep 2011 10:27
RNS Number : 9054O
Samsung Electronics Co. Ld
26 September 2011
Debt Guarantee for Overseas Subsidiary
On September 26th, 2011, the Management Committee authorized a credit line to SEEH (Samsung Electronics Europe Holding Cooperatief U.A., a holding company that controls subsidiaries of SEC in Europe). Under public disclosure regulations by Korea Exchange, SEC should make a public disclosure about a credit line that exceeds 2.5% (about KRW 2 trillion) of its equity capital.
Details:
1. Borrower: Samsung Electronics Europe Holding Cooperatief U.A.
- Relationship with SEC: An overseas subsidiary
2. Creditors: Seven banks including Sumitomo Mitsui Banking Corporation and Banks of Tokyo Mitsubishi UFJ, Ltd.
3. Credit line of SEEH: KRW 4,121,250,000,000
- A total of USD 3.5 billion by applying the currency exchange rate of KRW1,177.5/USD. The purpose of the credit line is to increase efficiency by allowing SEEH’s subsidiaries to use debt facilities under the credit line of SEEH.
- Each of the creditors will be provided with a credit line of USD500 million (a total of USD 3.5billion).
4. Details of credit line
- Amount: KRW 4,121,250,000,000
※ USD 1.52 billion out of USD 3.5 billion is to replace the existing guarantee, and the remaining USD 1.98billion is the newly provided amount.
- Equity capital: KRW 79,967,170,000,000
- Ratio of credit line to equity capital: 5.15%
※The period of credit line will start in October 2011 (tentatively) and last for one year.
5. Total credit line of SEC: KRW 10,679, 423,000,000
※ SEC’s total credit line which includes the credit line for SEEH
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