Hyundai Engineering to raise $100 million via bond sale

Cash-strapped Hyundai Engineering & Construction (HEC) plans to raise up to $100 million via a bond issue, according to a company spokesman. He denied a Maeil Business Newspaper report the issue will be exchangeable for shareholdings in Hyundai Motor and Hyundai Heavy Industries and also scotched market talk it would be guaranteed by Korea Development Bank (KDB) and Korea Export and Import Bank (KEXIM).