Seoul, April 19 (IANS) South Korea’s tech giant LG Electronics said on Friday it has successfully raised $800 million in a dollar bond deal.
The bonds, denominated in US dollars, were issued in two tranches: a three-year bond worth $500 million and a five-year sustainability bond totaling $300 million, according to LG Electronics.
The interest rates for these bonds were set at 95 basis points and 110 basis points over the U.S. Treasury rates of the same maturity for the three-year and five-year tranches, respectively.
LG Electronics said these rates were 40 basis points lower than the initially proposed spread, underscoring the strong demand from investors, reports Yonhap news agency.
It is the South Korean company’s first public foreign bond deal in 12 years and its first dollar-denominated bond deal in 17 years.
LG Electronics said its solid performance and financial stability have appealed to global investors despite global market challenges.
LG Electronics said the proceeds from the three-year bond will be used for strengthening its future competitiveness, including research and development and facility investments, while funds raised from the five-year sustainability bond will be spent on green and social projects.
–IANS
na/
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
