Current Funds

Dongbuka

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Dongbuka No.2 Ship Investment Company

Name
Dongbuka No. 2 Ship Investment Company Co., Ltd.
Classification
Paper Company in possession of one vessel
Establishment
15th June, 2004
Promoter
Korea Marine Finance Corporation
Public Offering
1st and 2nd September, 2004
Underwriter
Daewoo Securities
Duration
Approx. 10 years
(10 years from the delivery of the ship to the overseas subsidiary company)
Target Asset
One VLCC (built at Denmark's Odense Shipyard in 1993)
Acquisition Price
$60,000,000 (Approx. \72 billion) : $1 = \1,200
Structure
  • 1. Debt: Approx. \50.4 billion (70% of acquisition price) from Korea Development Bank
  • 2. Equity: Approx. \16.2 billion (22.5%) underwritten by Daewoo Securities
  • 3. Guarantee Deposit: Approx. \7.2 billion (10%) from Hyundai Merchant Marine

* Currency exchange rate at $1 = \1,200

* 2.5% of equity includes expenses for the company's establishment.

Stock Listing
Korea Exchange listed on 22nd October, 2004
Consignment Agreement
  • 1. Ship Investment Management Company : KOMARF
  • 2. Custody Company : Korea Development Bank
Advisory
  • Expert firms have participated to evaluate the business propriety of the ship investment company.
  • KR Consulting: Business propriety evaluation
  • Kim Chang & Lee Company : Legal propriety evaluation