LG Telecom raises US$120 mln via debt sale

SEOUL, April 22 (Yonhap) -- LG Telecom Co., South Korea's third-largest mobile
carrier, said Wednesday that it has raised US$120 million through the sale of
bonds with variable interest rates.

The floating rate notes carry an annual interest of 3 percentage points over the
three-month London Interbank Offered Rate (LIBOR) and will expire in 18 months,
the company said in a statement.
The debt sale was co-arranged by Calyon, Natixis, DBS Group Holdings and Standard
Chartered Bank, it said, adding the proceeds from the debt sale will be used as
working capital.
LG Telecom, the mobile unit of South Korea's third-largest conglomerate LG Group,
has a market share of 18 percent.
ygkim@yna.co.kr
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