News Formal

Exclusive: South Korea lining up banks to help finance $22 billion arms sale to Poland

  • 📰 Reuters
  • ⏱ Reading Time:
  • 18 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 97%

United States News News

United States United States Latest News,United States United States Headlines

After hitting statutory limits on import-export lending, South Korea is gathering local banks to help Poland buy $22 billion worth of weapons in Seoul's largest arms sale, five people familiar with the matter told Reuters.

A K9 howitzer, delivered in the first batch of arms from South Korea under contracts signed in recent months, fires during a military drill at a military range in Wierzbiny near Orzysz, Poland, March 30, 2023. REUTERS/Kacper Pempel/File PhotoNov 3 -

Two officials from a Korean defence company confirmed the syndicated loan plan. Two officials at South Korean banks said there would be loans, but did not specify the type. The defence company official said that if the syndicated loan for the next proposed sale wasn't enough, "there could be other financing measures on the way".

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Exclusive-South Korea lining up banks to help finance $22 billion arms sale to PolandExclusive-South Korea lining up banks to help finance $22 billion arms sale to Poland
Source: Investingcom - 🏆 450. / 53 Read more »