LG Caltex plans return to international bond markets

Korea''s second largest oil refiner looks set to launch its first international bond issue since July 1997.

Following hard on the heels of SK Corp, which priced a $250 million five year deal last week, LG Caltex is hoping to raise about $300 million from a 10 year deal. Four banks that have been shortlisted for the euro-144a mandate comprise, Citigroup, Credit Suisse First Boston, Deutsche Bank and Goldman Sachs.

In line with most recent Asian bond mandates, observers expect the group to select two rather than one bookrunner. In this respect, past experience would suggest that CSFB and Goldman Sachs are the two favourities.

Goldman has led all three of the group's previous Yankee bonds of 1995, 1996 and 1997, as well as a $250 million...

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