LG Energy Solution [373220:KS], a South Korean company, is planning to generate around USD1bn by issuing two dollar-denominated green bonds, as reported by Reuters on August 29. The information comes […]

LG Energy Solution [373220:KS], a South Korean company, is planning to generate around USD1bn by issuing two dollar-denominated green bonds, as reported by Reuters on August 29. The information comes from undisclosed sources knowledgeable about the matter. Although the exact scale of the issuance has not been determined yet, LG Energy Solution has engaged investment banks to facilitate the potential green bond deal. The involved banks include Bank of America [BAC:US], Citigroup [CITI:AV], Morgan Stanley [MS:US], Standard Chartered [STAN:LN], and the Korea Development Bank [KDBZ:KS].

The decision to issue corporate bonds will be finalized after a thorough assessment of market conditions in collaboration with the five joint lead managers. The proposed bonds could have three- and five-year maturities, and discussions with potential investors are scheduled to commence. In related news, LG Chem, the parent company of LG Energy Solution, recently garnered $2 billion through exchangeable bonds with terms of five and seven years, which can be converted into LG Energy Solution common shares.

Sources:

https://www.reuters.com/sustainability/sustainable-finance-reporting/skorea-lg-energy-solution-mandates-banks-dollar-green-bond-deal-sources-2023-08-29/