By Mary-Katherine Stinson
Lexington, Ky., May 15 – SK On Co., Ltd. issued $900 million of 5 3/8% guaranteed senior green notes due May 11, 2026 (Aa3), according to a listing notice.
The notes priced at 99.912.
Kookmin Bank is guaranteeing the notes.
The joint bookrunners and joint lead managers are BNP Paribas, Credit Agricole CIB, HSBC Ltd., J.P. Morgan Securities plc, MUFG Securities Asia Ltd. and Standard Chartered Bank.
The notes were listed on the Singapore Exchange effective May 12.
The notes have been recognized under the SGX sustainable income initiative.
Proceeds will be used to finance or refinance eligible projects under the issuer’s green financing framework.
Seoul, South Korea-based SK On is an electric vehicle developer, manufacturer and solutions provider. It is a subsidiary of SK Innovation Co. Ltd.
| Issuer: | SK On Co., Ltd.
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| Guarantor: | Kookmin Bank
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| Amount: | $900 million
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| Issue: | Guaranteed senior green notes
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| Maturity: | May 11, 2026
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| Bookrunners: | BNP Paribas, Credit Agricole CIB, HSBC Ltd., J.P. Morgan Securities plc, MUFG Securities Asia Ltd. and Standard Chartered Bank
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| Trustee: | HSBC Ltd. as fiscal agent
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| Counsel to issuer: | Lee & Ko, Greenberg Traurig, LLP and Cleary Gottlieb Steen & Hamilton LLP
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| Counsel to underwriters: | Linklaters LLP
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| Coupon: | 5 3/8%
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| Price: | 99.912
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| Trade date: | May 2
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| Settlement date: | May 11
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| Ratings: | Moody’s: Aa3
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| S&P:
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| Fitch:
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| Distribution: | Regulation S
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| ISIN: | XS2612749908
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