Bloomberg News

LG’s Telecom Unit Said to Seek to Borrow About $200 Million

November 02, 2011

Nov. 1 (Bloomberg) -- LG Uplus Corp., formerly known as LG Telecom, is seeking a loan for about $200 million, according to three people familiar with the matter.

The South Korean telecommunications and mobile phone operator, controlled by LG Group, has held discussions with banks for a two to three-year facility, said the people who asked not to be identified because the details are private. The facility will be a loan-style floating rate note, a type of offshore loan typically arranged for Korean borrowers.

--Editor: Katrina Nicholas

To contact the reporter on this story: Wendy Mock in Hong Kong at

To contact the editor responsible for this story: Shelley Smith at

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