Prices at the Pumps - April 17, 2024 #saltwire #energymarkets #pricesatthepumps #gaspricesSYDNEY - South Korea's LG Electronics is aiming to raise up to $1 billion in a dollar bond deal, according to three sources with direct knowledge of the matter.
The company has mandated investment banks to work on a 3-year and 5-year dollar bond deal, according to a term sheet seen by Reuters on Thursday.LG Electronics did not have immediate comment. Initial price guidance for the 3-year bond was 135 basis points over 3 year Treasuries while for the 5-year bond, it was 150 basis points over 5 year Treasuries.
The company intends to use the cash raised from the 3-year bond for general operations, including investment, and refinancing maturing debt, the term sheet showed.LG Electronics said last year it plans to become a global top 10 company in vehicle components by more than doubling revenue to 20 trillion won by 2030.
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