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To: Don Green who wrote (71958)	5/4/2001 7:13:26 PM
From: Don Green	Read Replies (1) \| Respond to of 93625

Creditors Deny Hynix Receivership Rumors By Lee Kap-soo Staff Reporter The government and creditors of ailing Hynix Semiconductor yesterday strongly denied widespread rumors in the market that the company will be placed under court receivership. Insisting the rumors are groundless, a senior official at Korea Exchange Bank (KEB), a main creditor of Hynix, said, ``If Hynix is placed under receivership, Korea's exports will be severely battered as exports by Hynix accounted for over 4 percent of the nation's total exports.'' ``As far as I know, the government is now working out a series of powerful measures to ensure the survival of Hynix Semiconductor in order to prevent the occurrence of another mishap, following the collapse of Daewoo Group,'' he said. In a related development, the introduction of foreign capital by Hynix Semiconductor is expected to be delayed. Hynix creditors and Salomon Smith Barney (SSB), a lead manager in charge of financing for the semiconductor company, said yesterday Hynix had postponed its overseas road shows aimed at attracting foreign investment, which were originally planned for May 7, to the middle of this month. As a result, whether Hynix will succeed in introducing foreign capital will be decided around early June. ``As creditors have decided to finalize their financing supporting programs for Hynix Semiconductor after investment and trust companies fix their refinancing volume to the company, the schedule for its hosting of road shows in foreign countries has been automatically delayed,'' an SSB official said. The creditors earlier requested that investment trust companies refinance 760 billion won worth of corporate bonds out of the total of 1.5 trillion won worth they now hold, which are to mature during the latter half of this year. But investment and trust firms are now calling for a reduction in their refinancing to Hynix Semiconductor to 400 billion to 500 billion won. Noting that it will take about a week for Hynix to prepare the documents required by the U.S. Securities Exchange Commission (SEC) for the overseas road shows, he said, ``If Hynix holds the overseas road shows in the middle of May, the introduction of foreign capital will be possible around early June.'' Another senior official at KEB also said, ``There will be no problem for Hynix to attract foreign capital if creditors fix their financial support programs.'' kslee@koreatimes.co.kr