G CHEM in $1.6 Billion Offering

April 15, 2019

Cleary Gottlieb represented LG CHEM LTD. (LG CHEM) in its Rule 144A/Reg. S offering of €500 million 0.5% notes due 2023, $500 million 3.25% notes due 2024, and $500 million 3.625% notes due 2029.

The offering, which priced on April 8, 2019, and closed on April 15, 2019, represented both the largest international debt securities offering and the first triple-tranche offering by a Korean private-sector issuer.

BofA Merrill Lynch, BNP PARIBAS, Citigroup, HSBC, Morgan Stanley, and Standard Chartered Bank were the joint lead managers for the offering.

LG CHEM is a leading global chemical company and the largest chemical company in Korea in terms of revenue. It manufactures and sells domestically and overseas a broad range of upstream and downstream petrochemical products, as well as rechargeable batteries and core materials used in the IT and automobile industries, among others. In addition, it engages in the manufacturing and sale of pharmaceuticals, vaccines, diagnostic kits, and fine chemicals.