Lotte to release Lotte World Tower as collateral for Lotte Chemical

Lotte Holdings has decided to provide Lotte World Tower as collateral for banks to strengthen Lotte Chemical's corporate bond credit.

Regarding the issue of Lotte Chemical's corporate bonds, Lotte said it is a measure that contains a strong will to stabilize the market, and that the group will take responsibility for it.

Lotte World Tower has spent 4.5 trillion won on construction alone, and its current value is known to be more than 6 trillion won.

He explained that as of October this year, Lotte Chemical has secured a total of 4 trillion won in available liquidity funds, including 2 trillion won in deposits.

Earlier, Lotte Chemical announced that it will coordinate with bondholders due to reasons for non-compliance with the financial special agreement in the bond management contract of some public offering corporate bonds.