EXHIBIT 99.2 [English Translation] November 21, 2003 Corporate Disclosure Syndicated Loan Agreement To Be Executed
EXHIBIT 99.2
[English Translation]
November 21, 2003
Corporate Disclosure
Syndicated Loan Agreement To Be Executed
1. Type of bonds borrowed Long-term borrowing
2. Details of Funds Borrowed
a. Signing Date of Agreement December 10, 2003
b. Lender Development Bank of Singapore, XX Xxxxxx Xxxxx, ABN AMRO,
Korea Development Bank, Korea Exchange Bank, etc.
- Relation with Our Company -
c. Period for Borrowing of Funds 5 years
- Date of Redemption November 13, 2008
d. Amount of Funds Borrowed (KRW) 720,000,000,000
- Equity Capital at the End of 1,374,670,148,948
Preceding Business
- Ratio to Equity Capital (%) 52.38
(1) Term loan
- Total borrowing : KRW660 billion (USD denominated and
local currency denominated loan)
- Maturity : 5 years
- Availability period : 2 years
- Repayment : Installment payments (Year 3: 15%, Year 4 :
40%, Year 5 : 45%)
(2) Revolving loan
e. Terms of Funds Borrowed - Total borrowing : KRW60 billion (local currency denominated
loan)
- Maturity : 5 years
- Availability period : 4 years and 9 months
- Repayment : Full redemption at maturity
(3) Applicable interest rates
- Nominal interest rate : approximately 6.44% (the nominal rate
may reflect the interest rate on the date of drawdown
- Potential downward adjustment : maximum 0.1% down as credit
rating improves
3. Use of Funds Borrowed - Repayment of debts and working capital requirement
4. Details of Transaction
a. Total Balance of Transaction (KRW) 720,000,000,000
b. Total Funds Borrowed in Current Business 720,000,000,000
Year (KRW)
5. Date of BOD Resolution November 21, 2003
- Presence of Outside Director(s) Present (No.) 5 Absent (No.) 1
- Presence of Auditor(s) Yes
6. Total Assets at the End of Preceding 3,601,570,278,436
Business Year (KRW)
7. Applicability of Fair Trade Act No
8. Applicability of Other Acts and Regulations -
1. Early redemption
- Early redemption possible with a 10-working day notice
in advance
- Reduction of commitment during the availability period possible
2. Collateral : the Company's tangible and intangible assets
- The Company shall repay collateralized loans from KDB and
provide adequate collateral to the lenders hereto. The
rest of assets collateralized will be provided to the lenders
hereto ranked as junior and re-ranked as senior after the loans are
repaid.
3. Conditions precedent
- Completion of equity investment by the AIG-Newbridge led
investment consortium
- Management control of the consortium over the Company secured
9. Others 4. Delegation of authority concerning the Agreement
- The Representative Director shall be granted the authority
to determine the details related to the Agreement that are not
mentioned above, and to perform the Agreement (including the
execution of all agreements - other details including those
not mentioned and documents constituting the Finance Document
as defined under the Agreement).
5. Delegation of Authority concerning the drawdown of the facility
- The Representative Director or a nominee of the Representative
Director (including CFO) shall be granted the authority to decide
the time and amount of the drawdown pursuant to the Agreement.
* Date of Relevant filing September 9, 2003
