LG Energy Solution in $1.4 Billion Offering

Cleary Gottlieb represented LG Energy Solution Ltd. (LG Energy Solution) in its Rule 144A/Reg S offering of $300 million 5% senior unsecured notes due 2029, $500 million 5.25% senior unsecured notes due 2031, $300 million 5.875% senior unsecured green notes due 2036, and $300 million floating-rate senior unsecured green notes due 2031.

One tranche of the notes was issued as green bonds under LG Energy Solution’s green financing framework. The notes were listed on the Singapore Exchange. The offering priced on March 25, 2026, and closed on April 2, 2026. BofA Securities, Citigroup, Crédit Agricole CIB, HSBC, and J.P. Morgan were the joint lead managers for the offering.

LG Energy Solution is one of the largest producers of rechargeable lithium-ion batteries in the world in terms of production capacity. It offers a wide array of battery products for use in electric vehicles, mobility and IT devices and energy storage systems. LG Energy Solution had operated as the energy solution business division of LG Chem until it was split-off into a wholly owned subsidiary of LG Chem in December 2020. LG Energy Solution conducted an initial public offering of its common shares in January 2022.

The Cleary team included partner Jinduk Han and associates So Yeon Chang and Yongjin Chang. Partner Matthew Brigham and associates Yoolim Lee and Julia Huang advised on U.S. tax matters.