LG Energy to fund U.S. plants with $552 million bond issuance

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LG Energy to fund U.S. plants with $552 million bond issuance

Audio report: written by reporters, read by AI


A LG Energy Solution's cylindrical battery plant under construction in Arizona [LG ENERGY SOLUTION]

A LG Energy Solution's cylindrical battery plant under construction in Arizona [LG ENERGY SOLUTION]

 
LG Energy Solution plans to issue corporate bonds worth 800 billion won ($552 million) to finance its multiple battery plants in North America.
 
The country's largest battery maker said Tuesday that it had submitted a registration statement to the Financial Supervisory Service for the issuance, the company's third. 
 

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The options will mature after two, three, five and seven years. The company will hold a preliminary demand examination from institutional investors on Thursday. 
 
“The size of issuance could be upped based on the results of the examinations,” LG Energy Solution said. 
 
The battery firm will put the funds toward planned expenditures at its North American plants. LG Energy Solution is currently constructing five factories in North America, including a $7.6 billion joint plant with Hyundai Motor in Georgia and a $4.4 billion one with Honda Motor in Ohio. 
 
LG Energy Solution in 2023 issued its first corporate bonds worth 1 trillion won and another worth 1.6 trillion won last year. 
 

BY SARAH CHEA [[email protected]]
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