LG Chem to Issue Up to 600 Billion KRW Corporate Bonds... Demand Reaches 1.7 Trillion KRW

1.3 Trillion KRW Poured Into 3-Year Corporate Bonds

LG Chem is issuing corporate bonds worth up to 600 billion KRW.

On the 17th, LG Chem conducted a demand forecast for corporate bonds worth 300 billion KRW targeting institutional investors, attracting a total of 1.675 trillion KRW in funds, and plans to double the originally planned bond issuance.

The 3-year bonds with a declared amount of 150 billion KRW received investment demand of 1.265 trillion KRW. The 5-year bonds worth 100 billion KRW attracted 310 billion KRW, and the 7-year bonds worth 50 billion KRW received 100 billion KRW, respectively. LG Chem plans to use all the funds raised from this bond issuance to repay maturing corporate bonds.

The fixed interest rate will be finalized on the 23rd. The interest rate based on the declared amount is approximately 0.06 to 0.19 percentage points lower than the average interest rate of corporate bonds with the same credit rating (AA+) as LG Chem.

LG Chem stated, "Based on our strong credit rating, we will continue investments to foster the three new growth engines: eco-friendly materials, battery materials, and global new drugs, despite the uncertain financial environment."

This content was produced with the assistance of AI translation services.