LG Energy Solutions Mandates Investment Banks for Dollar Based Green Bonds

According to a term sheet, LG Energy Solution in Korea has mandated investment banks to work on a potential dollar-denominated green bond deal.
The transaction is being handled by Bank of America, Citigroup, Morgan Stanley, Standard Chartered, and the Korea Development Bank.

"A final decision on specifics, including whether to issue corporate bonds, is set to be made after closely examining the market situation with the five joint lead managers," an LG Energy Solution official told Reuters in a statement.

The term sheet stated that the bonds could be issued in three and five-year maturities, but it did not specify the size of the transaction if it proceeds.

Investor meetings on the deal will begin on Wednesday, according to the term sheet.

LG Chem, LG Energy Solution's parent company, raised $2 billion in five and seven-year exchangeable bonds in July. Those bonds will be exchangeable into LG Energy Solution common shares.