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[Alpha Biz=(Chicago) Reporter Kim Jisun] LG Innotek will issue corporate bonds (credit rating AA-) worth up to 300 billion won.
It is the first time in a year since the issuance of 400 billion won in corporate bonds in February last year. The funds raised will be used for operating funds such as repayment of loans from financial institutions and purchase of materials and services, which are set to mature between February and March.
According to LG Innotek on the 31st, the company will make a demand forecast for the issuance of corporate bonds worth 150 billion won on the 31st. It plans to double the size of issuance to up to 300 billion won if there is an excess demand, with 100 billion won for three-year products and 50 billion won for five-year products.
Funds raised through the issuance of corporate bonds will be used for repayment of borrowings and operating funds. LG Innotek is set to repay Mizuho Bank's KRW 70 billion loan on the 22nd of next month and the Korea Development Bank's KRW 12.5 billion loan on March 18. In addition, funding including additional issuance will be used for material purchase and service payment.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
