By Marisa Wong
Los Angeles, Aug. 2 – South Korea’s Lotte Property & Development Co., Ltd. disclosed details of its $300 million of newly issued 4˝% guaranteed senior green and sustainability notes due 2025 guaranteed by Kookmin Bank.
The notes priced at 99.931.
BofA Securities, Citigroup, HSBC and Mizuho Securities were the joint global coordinators and joint bookrunners for the Regulation S offering.
Proceeds will be used to finance or refinance new or existing eligible projects as defined under the company’s sustainable finance framework.
Lotte is a shopping mall company based in Seoul.
| Issuer: | Lotte Property & Development Co., Ltd.
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| Guarantor: | Kookmin Bank
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| Amount: | $300 million
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| Issue: | Senior green and sustainability notes
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| Maturity: | Aug. 1, 2025
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| Coupon: | 4˝%
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| Price: | 99.931
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| Call option: | In whole at par for tax reasons
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| Pricing date: | July 25
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| Issue date: | Aug. 1
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| Listing date: | Aug. 2
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| Listing: | Singapore
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| Expected ratings: | Moody’s: Aa3
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| Distribution: | Regulation S
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| ISIN: | XS2507746993
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