Paul, Hastings, Janofsky & Walker, a leading global law firm, announced today that it has advised the joint bookrunners in Lotte Shopping’s US$900 million dual-currency convertible bond. Lotte Shopping is one of South Korea’s biggest retailers and a market leader in both department stores and discount stores.
The deal consisted of US$500 million of dollar-denominated bonds and US$400 million of yen-denominated bonds, both with a five-year maturity and a three-year put. This marks the largest convertible bond issuance in Asia ex-Japan to date this year.
The Paul Hastings team was led by partners Daniel Kim, David Grimmand Christian Parker with support from Dongho Lee and Steve Kang.
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