[건설사 자금조달 진단] HL D&I, '영구채 딜레마' 대응책은

HL D&I faces a critical refinancing challenge with multiple corporate bond maturities approaching in 2026 while perpetual bonds issued in 2025 trigger a costly step-up clause in 2027, creating a paradox where debt reduction attempts increase leverage ratios. Rising interest costs and previous failed bond offerings threaten financial stability, making successful market access and timely debt restructuring essential for sustainability.