SC Lowy completes Korean financing first

SC Lowy, the Hong-Kong head-quartered investment and trading firm, which now has about two thirds of its business in shipping, has completed a landmark deal in South Korea, SinoShipNews reports. The firm has just announced this week that they have completed a US$85m financing for Korea Line Corporation, a major Korea-based marine transportation services company.  It is the first debtor-in-possession financing of its kind in Korea. SC Lowy was the exclusive advisor on the restructuring that involved the negotiation, execution, and settlement of multiple charter claims from international counterparties against the company.