LG Display Raises 650 Billion KRW Through Syndicated Loan
LG Display stated in a corrected securities registration statement that "on December 22, 2023, it signed a syndicated loan borrowing agreement worth 650 billion KRW with KDB Industrial Bank, Export-Import Bank, and Shinhan Bank, under the conditions of a 3-year grace period and 2-year installment repayment."
According to the Financial Supervisory Service's electronic disclosure system on the 4th, LG Display revealed that "20 billion KRW was withdrawn in December 2023, and the remaining 45 billion KRW is scheduled to be withdrawn in the first half of 2024."
A syndicated loan refers to a type of collective loan where multiple financial institutions form a lending syndicate to provide a certain amount of funds under common terms.
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LG Display plans to use the funds raised through the syndicated loan for facility investments and operating expenses to strengthen the growth foundation in the organic light-emitting diode (OLED) sector.
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