Life Insurance News
(Corrects first paragraph to say $1.6 billion, not $1.5 billion and to say funding, not loans)
SEOUL, April 4 (Reuters) - American International Group (AIG.N: Quote , Profile , Research ) said on Wednesday it had secured funding totalling $1.6 billion for the construction of a high-rise building in central Seoul.
AIG Korean Real Estate Development YH, the developer of the International Finance Centre building in the capital city, has secured a loan agreement slightly topping 1 trillion won ($1.07 billion) from a consortium led by South Korean banks, it said in a statement.
Top local lender Kookmin Bank (060000.KS: Quote , Profile , Research ) and second-ranked Shinhan Bank, a unit of Shinhan Financial Group (055550.KS: Quote , Profile , Research ), are part of the consortium, as well as unlisted Samsung Life, the country's top life insurance firm.
The remaining 500 billion won was being funded by international equity investors according to a previous agreement, a spokesman for the construction project added, declining to identify them.
This is cache, read story here
SEOUL, April 4 (Reuters) - American International Group (AIG.N: Quote , Profile , Research ) said on Wednesday it had secured funding totalling $1.6 billion for the construction of a high-rise building in central Seoul.
AIG Korean Real Estate Development YH, the developer of the International Finance Centre building in the capital city, has secured a loan agreement slightly topping 1 trillion won ($1.07 billion) from a consortium led by South Korean banks, it said in a statement.
Top local lender Kookmin Bank (060000.KS: Quote , Profile , Research ) and second-ranked Shinhan Bank, a unit of Shinhan Financial Group (055550.KS: Quote , Profile , Research ), are part of the consortium, as well as unlisted Samsung Life, the country's top life insurance firm.
The remaining 500 billion won was being funded by international equity investors according to a previous agreement, a spokesman for the construction project added, declining to identify them.
This is cache, read story here
