Most Popular
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[Weekender] Geeks have never been so chic in Korea
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N. Korea says it test-fired tactical ballistic missile with new guidance technology
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NewJeans members submit petitions over court injunction in Hybe-Ador conflict
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[News Focus] Mystery deepens after hundreds of cat deaths in S. Korea
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S. Korea's exports of instant noodles surpass $100m for 1st time in April: data
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[Herald Interview] Byun Yo-han's 'unlikable' character is result of calculated acting
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US military commander in S. Korea during Gwangju uprising dies
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[Photo News] Seoul seeks 'best sleeper'
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US expert says N. Korea might ignore Trump if he returns to White House
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Yoon vows to advance freedom, welfare to uphold spirit of 1980 pro-democracy uprising
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LG Chem Ltd., South Korea's top chemicals firm, said Monday that it plans to sell 800 billion won ($712 million) worth of debt to fund the expansion of its facility and refinance short-term maturing debt.
In a regulatory filing, LG Chem said it has originally planned to sell 500 billion won worth of debt, but jacked up the amount given strong demand for the debt issue.
The bond issue is the largest for the company since 2012.
In a book building process for institutional investors, orders for the debt sale amounted to a total of 1.77 trillion won, LG Chem said.
The debt issue is split into three tranches -- 120 billion won in three-year bonds, 400 billion won in five-year debt and 280 billion won in seven-year.
The pricing of the debt issue will be determined on May 18.
The proceeds from the debt sale will be used to finance facility expansion and refinance maturing debt, LG Chem said. (Yonhap)
