DIGEST

Creditors sweeten Kia terms

SEOUL - Creditors of Kia Motors Corp. offered last week to sell the bankrupt automaker to the highest bidder by dropping a condition that acquirers pick up a fixed slice of the company's more than $8 billion debt.

In two failed auction attempts, Kia's lenders had insisted bidders be willing to accept all but $2.1 billion in debt. All bidders refused.

Last week, creditors agreed to let bidders specify the amount of the debt write-off they would accept. The size of the write-off request likely will decide the winning bid.

New bids are due Oct. 12, and a winner is to be announced Oct. 19.

HONDA NEARS DEAL …