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Biz News Korea(Eng)
Order book for LG Elec’s Sept offering nearly quadruples
- Collected
- 2016.08.31
- Distributed
- 2016.09.01
- Source
- Go Direct
According to the investment banking industry Tuesday, the AA0-grade tech giant tapped demand for 250 billion won worth multiple-tranche issues and received subscriptions of 930 billion won. The three-year and five-year papers for 80 billion won each drew 390 billion won and 240 billion won, respectively.
Its papers on longer curve also attracted enormous bids despite murky prospect from expectations for U.S. interest rates going higher. The seven-year and 10-year notes each capped at 50 billion won and 40 billion won separately attracted bids of 150 billion won.
Underwriters include KB Investment & Securities Co. and NH Investment & Securities Co. The pricing is scheduled for Sept. 6.
LG Electronics’ earlier offerings of 350 billion won in February drew order book of 640 billion won. It upped the issues to 450 billion won to meet demand.
By Ko Min-suh
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