LG Chem in $2 Billion Exchangeable Bonds Offering

July 18, 2023

Cleary Gottlieb represented LG Chem, Ltd. in its Reg. S offering of $1 billion 1.25% exchangeable bonds due 2028 and $1 billion 1.60% exchangeable bonds due 2030, each of which may be exchanged for shares of LG Energy Solution’s common stock.

The Bonds were listed on the Singapore Exchange. The offering priced on July 11, 2023, and closed on July 18, 2023. Citigroup, Goldman Sachs (Asia) L.L.C., and HSBC were the joint global coordinators, lead managers, and bookrunners for the offering.

LG Chem is a leading global chemical company and the largest chemical company in Korea in terms of revenue. LG Chem 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 manufacture and sale of pharmaceuticals, vaccines, diagnostic kits, and fine chemicals.