LG Electronics deal launched into general syndication

Pricing on the current deal is cheaper than a $200 million three-year loan-style FRN earlier this year.

After raising $200 million in May, the electronics giant is back in the loan markets again. Mandated arrangers CitiSSB, Kookmin Bank and Shinhan Bank launched a $200 million dual-tranche loan-style FRN into general syndication last week.

Split equally, the current transaction pays a spread of 50bp over Libor for the two-year tranche and 60bp over Libor for the three-year tranche. The deal has no guarantor and was launched directly into general syndication, which is slated for close on October 4.

Marketed on four levels, banks joining the deal on the highest level as co-arrangers with commitments of $20 million or above receive management fees of 42bp all-in of 71bp for the two-year tranche...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222