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Biz News Korea(Eng)
LG International to open Korean Inc. pipeline with $92.5 mn debt issue in Jan
- Collected
- 2017.12.22
- Distributed
- 2017.12.26
- Source
- Go Direct
According to finance industry sources on Friday, LG International Corp., which had been absent in the market this year, will issue 100 billion won in three-year and five-year notes in mid-January. Retail heavyweights Shinsegae and Lotte also are readying fresh offering.
LG International mulled issue in August last year, but its five-year offering had been undersubscribed. It bets better response as it maintains solid investment-grade rating of AA-.
The corporate debt market has been lethargic at the year-end off-season and is likely to regain activity in January as companies are likely to rush before borrowing rates go higher.
The Bank of Korea on Nov. 30 raised interest rates by a quarter of a percentage point to 1.50 percent from the record low of 1.25 percent kept since June last year. It was its first hike in more than six years. The central bank indicated two additional hikes in recent report if economic conditions allow.
By Jung Hee-young and Cho Jeehyun
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