LG Energy Solution aims to raise up to US$2 billion in US dollar bond deal: sources

SOUTH Korean battery maker LG Energy Solution aims to raise up to US$2 billion in a three-tranche US dollar bond deal, said two sources with direct knowledge of the matter.

The deal will consist of a three-year tranche alongside five- and 10-year green bonds, showed the term sheet, which did not outline the size of the transaction.

The sources declined to be identified as the information is confidential.

“The company on Monday (Jun 24) announced the issuance of a US dollar corporate bond deal, consisting of a three-year tranche, and five- and 10-year green bonds. Details will be decided after today’s demand forecast,” LGES said.

Initial price guidance has been set at Treasuries plus 130 basis points (bps) for the three-year tranche, Treasuries plus 140 bps points for the five-year and Treasuries plus 165 bps for the longer dated tranche, showed the term sheet.

Final pricing is due on Monday, the term sheet showed. REUTERS