Creditors of troubled STX Offshore & Shipbuilding have agreed to provide fresh liquidity to the shipbuilder in a bid to help resolve its cash crunch, industry sources said Wednesday.

The creditors have submitted a written consent for the liquidity supply worth about 2.15 trillion won ($1.92 billion) to the company's main creditor Korea Development Bank, according to the sources.

The supply of fresh liquidity includes 1.85 trillion won in emergency funds, leading the total volume of liquidity injection in the shipbuilder to reach nearly 3 trillion won. The liquidity injection requires more than 75 percent agreement from creditors.

The creditors' agreement also includes swapping debts worth 700 billion won into equity and capital reduction for shareholders, the sources added.

STX Group, the country's 13th-biggest conglomerate, has seen its major affiliates struggle from liquidity shortages and mounting debt due to the downturn in the shipbuilding and shipping sectors.

The creditors have pumped liquidity into ailing STX Group in return for overhaul efforts.

STX Group's holding company STX Corp. and its three ailing units -- STX Offshore & Shipbuilding, STX Heavy Industries and STX Engine -- have requested that creditor banks supply liquidity.

STX Group had a combined 2.86 trillion won in corporate debt to be paid out by 2015, of which 580 billion won was due this year, according to NICE Investors Service, a local credit appraiser.

Industry watchers said that massive liquidity injection into the group is feared to hurt local banks' financial health.

But in what may be a relief to local banks, the financial regulator recently allowed local lenders to decide on how much loan-loss reserves related to STX Group they should set aside.

Previously, the financial watchdog required local banks to classify STX Group-related loans as substandard loans, or debt overdue for more than three months.

The stronger rule has prompted local banks to allocate higher loan-loss reserves, hurting their financial health should they provide liquidity to STX Group. (Yonhap News)