SEOUL, Dec 4 (Reuters) - South Korea's Daewoo Motor Sales Co Ltd said on Wednesday it had issued 40 billion won ($32.86 million) in asset backed securities (ABS) to repay maturing debt.
The company, the sales outlet for GM Daewoo Auto & Technology Co, said the new issue would bring down its debt-to-equity ratio to 87 percent from the current 92 percent.
The yield on the ABS issue was set at 6.5 percent, a company spokesman told Reuters.
($1=1217.2 Won)
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