{"id":62636,"date":"2024-04-19T05:00:00","date_gmt":"2024-04-19T00:00:00","guid":{"rendered":"http:\/\/myanmarnewsgazette.com\/?guid=1e3ab8db5aaaa5df7995fb381179bd2a"},"modified":"2024-04-19T05:00:00","modified_gmt":"2024-04-19T00:00:00","slug":"lg-electronics-raises-us800-million-bond-for-r-andd-facilities-investments","status":"publish","type":"post","link":"https:\/\/myanmarnewsgazette.com\/lg-electronics-raises-us800-million-bond-for-r-andd-facilities-investments\/","title":{"rendered":"LG Electronics raises US$800 million bond for R andD, facilities investments"},"content":{"rendered":"
\n South Korea’s tech giant LG Electronics Inc. said Friday it has successfully raised a total of US$800 million in a dollar bond deal.<\/p>\n
The bonds, denominated in U.S. 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.<\/p>\n
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.<\/p>\n
LG Electronics said these rates were 40 basis points lower than the initially proposed spread, underscoring the strong demand from investors.<\/p>\n
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.<\/p>\n
LG Electronics said its solid performance and financial stability have appealed to global investors despite global market challenges.<\/p>\n
The company, known as one of the largest home appliance makers in the world, has been activ
\nely diversifying its business portfolio, venturing into electric vehicle components, business-to-business services and platform-based solutions.<\/p>\n
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.<\/p>\n
Source: Yonhap News Agency<\/p>\n","protected":false},"excerpt":{"rendered":"
South Korea’s tech giant LG Electronics Inc. said Friday it has successfully raised a total of US$800 million in a dollar bond deal.<\/p>\n
The bonds, denominated in U.S. dollars, were issued in two tranches: a three-year bond worth $500 million and a five…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"yoast_head":"\n