South Korea's LG Electronics sets guidance for dual tranche $600 million bond offering

By Reshmi Basu

New York, May 10 - LG Electronics Inc. set guidance for a dual tranche offering of $600 million of bonds (Baa3/BBB-), according to a market sources.

The company plans to sell $300 million of five-year bonds in the area of 120 basis points over Treasuries and $300 million of 10-year bonds in the area of 140 basis points over Treasuries.

Pricing is expected later this week after the completion of Wednesday's roadshow in London and New York.

Citigroup, Credit Suisse First Boston, Lehman Brothers and Korea Development Bank are managing the sale of the Rule 144A/Regulation S with no registration rights issue.

The issuer is a Seoul-based electronics manufacturer.

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