That’s a whole lot of Optimas
While Detroit licks its wounds and gears up for another round of groveling to Nancy Pelosi, the Koreans are taking a comparatively-unusual approach to debt service:
Kia, an affiliate of the country’s top car maker Hyundai Motor Co, has found it difficult to issue bonds to refinance debt amid global financial turmoil and a looming worldwide recession that has hit auto demand.
So what do they do?
Kia … said it had decided to pay 300 million euros ($378.5 million) worth of debt due on Monday in cash.
In cash? Whoever heard of such a thing?
(Seen here.)
