New Issue: South Korea's LG Electronics sells $500 million five-year notes at Libor plus 73 bps

By Reshmi Basu

New York, May 9 - LG Electronics Inc. sold a $500 million offering of five-year floating-rate notes (Baa3/BBB-/BBB-) at 99.653 to yield three-month Libor plus 73 basis points, according to a market source.

The deal priced in the middle of guidance, which was set at 70 to 75 bps over Libor.

Deutsche Bank, HSBC, JP Morgan, Korea Development Bank and Morgan Stanley were lead managers for the Regulation S deal.

The company is a Seoul-based electronics maker.

Issuer:	LG Electronics Inc.
Amount:	$500 million
Issue:	Floating-rate notes
Maturity:	May 15, 2012
Coupon:	Three-month Libor plus 65 bps
Issue price:	99.653
Yield:	Three-month Libor plus 73 bps
Lead managers:	Deutsche Bank, HSBC, JP Morgan, Korea Development Bank, Morgan Stanley
Pricing date:	May 9
Settlement date:	May 15
Ratings:	Moody's: Baa3
	Standard & Poor's: BBB-
	Fitch: BBB-
Distribution:	Regulation S
Price guidance:	Libor plus 70 to 75 bps

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