LG CHEM in $1 Billion Dual-Tranche Green Notes Offering

Cleary Gottlieb represented LG Chem Ltd. (LG Chem) in its Rule 144A/Reg S offering of $500 million 1.375% notes due 2026 and $500 million 2.375% notes due 2031.

The notes were issued as “green bonds” under LG Chem’s green financing framework. The notes were listed on the Singapore Exchange. The offering priced on June 28, 2021, and closed on July 7, 2021. BofA Merrill Lynch, BNP Paribas, Citigroup, HSBC, KDB, 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. 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.