LG Uplus, the telecom unit of conglomerate LG Group, is looking to borrow US$200m, wrote Bloomberg citing three people familiar with the situation.
The facility could reportedly be a two to three-year loan-style floating rate note. Bloomberg explains…
LG Uplus, the telecom unit of conglomerate LG Group, is looking to borrow US$200m, wrote Bloomberg citing three people familiar with the situation.
The facility could reportedly be a two to three-year loan-style floating rate note. Bloomberg explains that this type of loan is usually arranged for Korean borrowers.
LG Uplus could not be reached for comment before publication.
In mid-August, LG Uplus won the auction of 20 MHz of spectrum in the 2.1GHz band. The company, which was the only bidder, only had to pay the minimum offer price of KRW445bn (US$409.5m), local media reported.
Bigger competitors SK Telecom and KT Corp were excluded from the auction because of antitrust concerns. SK Telecom already holds 60MHz of spectrum in the 2.1GHz range, and KT Corp owns 40MHz.