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LG Energy Solution raises US$2b in three-tranche dollar bond

Tan KW
Publish date: Tue, 25 Jun 2024, 12:52 PM
Tan KW
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SYDNEY South Korean battery manufacturer LG Energy Solution said on Tuesday that it has raised US$2 billion in a three-tranche dollar bond deal and will use the proceeds to invest in global production facilities, and research and development.

The deal consists of a US$700 million three-year bond, an US$800 million five-year green tranche, and a US$500 million 10-year green bond.

The three-year bond was priced at Treasuries plus 100 basis points, the five-year at Treasuries plus 110 basis points, while the longer-dated bond was at Treasuries plus 135 basis points, according to a term sheet seen by Reuters.

Final pricing for the bonds was 30- to 35 basis points tighter across the three tranches than the initial guidance given to investors on Monday, the term sheet showed.

Investors lodged orders worth more than US$8 billion, according to a message sent to investors on Tuesday by the deal's bookrunners.


  - Reuters


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