DSME set to bank $448m loan

Restructuring Korean yard set to access creditors' cash this month.

Restructuring DSME looks set to access fresh cash from creditors later this month.

The Yonhap news agency said it will bank KRW 500bn ($448m) in new loans, citing industry sources.

The money will go on paying subcontractors and employees.

The loans are part of a second state-led bail-out worth $2.6bn and involving debt swaps.

Bondholders are giving a three-year grace period for repayments.

Sources added that trading of its stock could resume in October, having been suspended since July 2016.

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