Lotte Shopping Closes Equity-Linked Bond

April 12, 2018

Seoul – Paul Hastings, a leading global law firm, announced today that the firm advised BNP Paribas and Nomura as joint bookrunners on Lotte Shopping’s KRW303.6 billion (US$285 million) exchangeable bonds, exchangeable into shares of Lotte Himart, the largest consumer electronics retailer in Korea and a majority-owned subsidiary of Lotte Shopping. Lotte Shopping is one of South Korea’s biggest retailers and a market leader in both department stores and discount stores.

The exchangeable bonds, denominated in Korean won though settled in US dollars with a five-year maturity and a three-year put, were listed on the Singapore Exchange.

Paul Hastings has advised on a number of Lotte Shopping’s capital markets transactions including representing the joint bookrunners in Lotte Shopping’s multiple award-winning US$900 million dual-currency convertible bond in 2011, and in its Korean won-denominated exchangeable bonds in 2013.

The Paul Hastings team was led by Dong Chul Kim, head of the firm’s Korea Capital Markets practice, with support from associate Albert Nah. Partner Christian Parker and associate Dionne Brown provided English law advice.

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