SK Gas : Decision on Provision of Debt Guarantee for Others
February 14, 2022 at 08:33 am
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Decision on Provision of Debt Guarantee for Others
1. Debtor
Ulsan GPS Corporation
- Relationship to company
Affiliated company
2. Creditor
Bond holders for non-guaranteed publicly offered bonds of Ulsan GPS Corporation
3. Amount of debt (borrowing) (KRW)
200,000,000,000
4. Details of debt guarantee
Amount of debt guaranteed (KRW)
200,000,000,000
Equity capital (KRW)
1,898,715,509,313
Ratio to equity capital (%)
10.53
Classified as a large-sized corporation?
Yes
Guarantee period
Start date
-
End date
-
5. Total balance of debt guarantee (KRW)
827,897,300,000
6. Date of board resolution (decision date)
2022-02-08
- Attendance of outside directors
Present (No.)
4
Absent (No.)
0
- Attendance of auditors (members of Audit Committee who are not outside directors)
-
7. Other matters to be factored into investment decisions
- The debt guarantee above is related to the issuance of non-guaranteed publicly offered bonds of Ulsan GPS Corporation, a company in which SK Gas holds a 99% shares.
- "3. Amount of Debt" is the maximum expected amount of issuance of the principal of the publicly offered bonds, and will be determined in the future within the range of between KRW 150 billion and KRW 200 billion. The interest on the principal is also subject to debt guarantee in addition to the principal, yet it was not included in the guaranteed amount.
- The equity capital of "4. Details of debt guaranteed" is based on the consolidated financial statements of SK Gas Co., Ltd as of the end of 2020.
- The guarantee period of "4. Details of debt guaranteed" is from the date of issuance of bonds until the full payment of the principal and interest, and is subject to change according to the bond issuance schedule.
- "5. Total balance of guarantee account" is the sum of the amount of debt guarantee of this disclosure and the amount of the existing debt guarantee.
- The current fiscal year of the "Condensed Financial Statement of Debtor" below is based on the financial statements of Ulsan GPS Corporation as of the end of 2020.
※ Related disclosure
-
【Condensed Financial Statements of Debtor】(in KRW mn)
Category
Total assets
Total liabilities
Total shareholders' equity
Capital stock
Sales
Net income
Current fiscal year
81,627
2,005
79,622
79,910
0
-3,803
Previous fiscal year
28,423
9,557
18,866
149,100
0
-13,061
Two fiscal years prior
51,120
254
50,866
166,600
0
-111,787
[Balance of Debt Guarantee per Debtor]
Debtor
Relationship
Balance of debt guarantee (KRW)
Period of debt guarantee
Remarks
울산지피에스(주)
Affiliated company
200,000,000,000
From the date of issuance of bonds until the full payment of the principal and interest
Amount of debt guaranteed for Ulsan GPS Corporation (as of this disclosure)
SK GAS INTERNATIONAL PTE.LTD.
Affiliated company
109,200,000,000
2022.1.1~2022.12.31
Amount of debt guaranteed for Saudi Arabian Oil Company(ARAMCO), CHEVRON(INTERNATIONAL) TRADING PTE.LTD. (disclosed on 2021.12.17)
SK Gas Petrochemical Pte. Ltd.
Affiliated company
153,897,300,000
2021.9.17~2024.6.30
Amount of debt guaranteed for AGIC (disclosed on 2021.9.23)
SK Gas Trading LLC
Affiliated company
364,800,000,000
2021.6.11~2022.6.10
Amount of debt guaranteed for Woori Bank(NY), MIZUHO Bank(LA),SMBC Bank(NY), SC Bank(USA), KEB Hana Bank(LA)(disclosed on 2021.5.21)
※ Relevant statutes
Financial Investment Services and Capital Markets Act
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Disclaimer
SK GAS Ltd. published this content on 14 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 February 2022 08:32:03 UTC.
SK Gas Ltd is a Korea-based company engaged in the import, storage and marketing of liquid petroleum gas (LPG). The Company imports LPG from the Middle East countries, such as Saudi Arabia, Kuwait and the United Arab Emirates, and provides LGP to domestic oil refineries, petrochemical companies, gas stations and other industries. The Company also operates storage terminals in Ulsan and Pyeongtaek, Korea. The Company also exports LPG to overseas markets.