SEOUL - LG Chem Ltd., the leading chemical manufacturer in South Korea, disclosed plans on Tuesday to generate up to 1 trillion won (US$751.3 million) through a bond issuance.
According to Yonhap News Agency, the proceeds from the sale will be allocated towards investments in future growth drivers, including green products, battery materials, and new drug development, as well as to repay maturing debts. The decision to double the initial bond issuance from 500 billion won to 1 trillion won came after drawing an impressive 3.44 trillion won in interest from institutional investors.
The company also stated that the fixed interest rates for the bonds will be determined on March 5, marking a significant step in LG Chem's strategy to bolster its position in core areas of future growth.