SK Gas : Decision on Provision of Debt Guarantee for Others
May 25, 2022 at 01:04 pm EDT
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Decision on Provision of Debt Guarantee for Others
1. Debtor
SK Gas Trading LLC
- Relationship to company
Affiliated company
2. Creditor
Energy Transfer LNG Export LLC
3. Amount of debt (borrowing) (KRW)
79,300,000,000
4. Details of debt guarantee
Amount of debt guaranteed (KRW)
79,300,000,000
Equity capital (KRW)
2,117,363,391,889
Ratio to equity capital (%)
3.75
Classified as a large-sized corporation?
Yes
Guarantee period
Start date
2022-06-01
End date
-
5. Total balance of debt guarantee (KRW)
857,197,300,000
6. Date of board resolution (decision date)
2022-05-19
- Attendance of outside directors
Present (No.)
4
Absent (No.)
0
- Attendance of auditors (members of Audit Committee who are not outside directors)
-
7. Other matters to be factored into investment decisions
- The above disclosure is the new provision of the Parent Company Guaranty (guarantee for contract performance) of SK Gas for the execution of a long-term LNG contract with SK Gas Trading LLC (hereinafter, 'SKGT'), an overseas grandson company in which SK Gas USA Inc., a local subsidiary of our company, owns 100% interest.
The "3. Amount of debt (borrowing)" and "4. Details of debt guarantee- Amount of debt guaranteed" are intended as the idea on the guarantee limit, and are subject to change according to the exchange rate fluctuations.
- The end date of the "Guarantee period" of the "4. Details of debt guarantee" above is up to the end of the long-term LNG contract signed by SKGT with the creditor.
- The "Equity capital (KRW)" in the "4. Details of debt guarantee" above is based on the consolidated financial statements as of the end of 2021.
- The "5. Total balance of debt guarantee" is the sum of the debt guarantee amount of this disclosure and the previous debt guarantee amount.
- The "Condensed Financial Statements of Debtor" below is as of the end of 2021.
※ Related disclosure
-
【Condensed Financial Statements of Debtor】(in KRW mn)
Category
Total assets
Total liabilities
Total shareholders' equity
Capital stock
Sales
Net income
Current fiscal year
55,714
36,471
19,243
0
1,565,590
998
Previous fiscal year
41,146
24,434
16,712
0
827,533
800
Two fiscal years prior
21,781
4,735
17,046
0
744,275
885
[Balance of Debt Guarantee per Debtor]
Debtor
Relationship
Balance of debt guarantee (KRW)
Period of debt guarantee
Remarks
SK Gas Trading LLC
Affiliated company
79,300,000,000
2022. 6. 1 ~ until the termination of the contract
Debt guarantee amount for Energy Transfer LNG Export LLC (this disclosure)
Ulsan GPS Corporation
Affiliated company
150,000,000,000
2022. 2. 25 ~ until final repayment of principal and interest
Debt guarantee amount for Saudi Arabian Oil Company (ARAMCO), CHEVRON (INTERNATIONAL) TRADING PTE.LTD.
(disclosure dated 2021.12.17)
SK Gas Petrochemical Pte. Ltd.
Affiliated company
153,897,300,000
2021.9.17~2024.6.30
Debt guarantee amount for AGIC
(disclosure dated 2021.9.23)
SK Gas Trading LLC
Affiliated company
364,800,000,000
2021.6.11~2022.6.10
Debt guarantee amount for Woori Bank (NY), MIZUHO Bank (LA), SMBC Bank (NY), SC Bank (USA), and KEB Hana Bank (LA)
(disclosure dated 2021.5.21)
※ Relevant statutes
Financial Investment Services and Capital Markets Act
Attachments
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Original Document
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Disclaimer
SK GAS Ltd. published this content on 25 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 May 2022 16:12:44 UTC.
SK Gas Ltd is a Korea-based company engaged in the import, storage and marketing of liquid petroleum gas (LPG). The Company imports LPG from the Middle East countries, such as Saudi Arabia, Kuwait and the United Arab Emirates, and provides LGP to domestic oil refineries, petrochemical companies, gas stations and other industries. The Company also operates storage terminals in Ulsan and Pyeongtaek, Korea. The Company also exports LPG to overseas markets.
SK GAS CO., LTD. 
