S.Korea’s LG Energy Solution aims to raise about $1bn in green bonds

South Korea’s LG Energy Solution is aiming to to raise about $1 billion from the sale of two, dollar-denominated green bonds.

The company has mandated investment banks to work on a potential dollar-denominated green bond deal, according to a term sheet seen by Reuters.

The sheet allegedly explained that investor meetings on the deal will begin on Wednesday, 30 August, and that the bonds could be issued in three and five-year tenors.

The report suggests that Bank of America, Citigroup, Morgan Stanley, Standard Chartered, and the Korea Development Bank are working on the transaction.

A statement from an LG Energy Solution official said: “No specifics have been decided regarding the scale.”

Speaking to Reuters, an official from the firm added: “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.”

The sources, whom Reuters claim have direct knowledge of the matter, could not be identified as “the information was not yet made public.”

This latest update across the ESG space comes following the recent ‘ESG Data Acquisition & Management Survey 2023’ from Bloomberg and Adox.

According to the survey, a staggering 92% of executives are readying themselves to increase their investments in ESG (environmental, social and governance) spheres, with at least a 10% hike anticipated. Going further, almost a fifth (18%) of these executives have set their sights on a boost of 50% or more.

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