Advising on the issuance by LG Electronics of overseas bonds in the amount of US$800 million.

Lee & Ko advised LG Electronics on the issuance of overseas bonds in the amount of US$800 million. 

By way of this transaction, LG Electronics is back on track after a gap of 17 years and solidified its position in the Korean Paper market. The bonds were issued in three-year and five-year fixed rate bonds respectively divided into US$500 million and US$300 million, with the five-year bonds issued in the form of a sustainability bond.

LG Electronics, breaking surface in the issuer market after a long pause, was well received by global investors in Asia, the U.S., and Europe, leading to the additional interest rate (spread) being set at the rate that is approximately 40bp lower than the initial price guide (IPG). The managers involved, amongst others, were BNP Paribas, Citigroup, HSBC, JP Morgan, Korea Development Bank, and Standard Chartered Bank.

In this transaction, Lee & Ko provided LG Electronics with a comprehensive and in-depth advice on and around the overall issuance on the basis of its review of applicable laws and regulations related to issuance, relevant contracts and offering circular, and government approvals and licenses. Thanks to its expertise accumulated through many years of experience, Lee & Ko provided advice swiftly and accurately and significantly contributed to the seamless and successful closing of the transaction.

In addition to the issuance of LG Electronics’ overseas bonds, Lee & Ko has been widely recognized for its proven expertise by taking part in the mainstream transactions in the Debt Capital Market area, including but not limited to the transactions involving the issuance of overseas bonds in the amount of US$600 million for Mirae Asset Securities, US$1 billion for Hyundai Capital, US$1.4 billion for Korea National Oil Corporation, US$600 million for Korea Ocean Business Corporation, US$600 million for KB Kookmin Bank, and US$500 million for Korea Expressway Corporation in the first half of 2024.