By Kwanwoo Jun
SK Energy, a unit of South Korea's top oil refiner SK Innovation Co. Ltd. (096770.SE), is looking to raise more than $250 million in a green bond issuance to finance the production of low-sulfur fuel oil.
The oil company said Monday it plans to issue bonds worth 300 billion won ($251.5 million) on Sept. 26. It may then consider raising the total issue size to KRW500 billion based on demand, it said.
The proceeds will be used to fund the construction of new oil-refining facilities designed to lower the sulfur-oxide content of marine fuel oil, ahead of the International Maritime Organization's implementation of tougher rules on ship fuels from next year, it said.
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