Paul Hastings Advised L&F in its Debut Issuance of US$500 Million Convertible Bonds
May 11, 2023
Paul Hastings LLP advised L&F Co., Ltd. (“L&F”) in its issuance of US$500 million 2.50% Convertible Bonds due 2030 on April 26, 2023. The offering represents L&F’s debut issuance in the global capital markets and was conducted in reliance on Regulation S of the U.S. Securities Act of 1933, as amended. The bonds were listed on Singapore Exchange Securities Trading Limited. J.P. Morgan Securities plc acted as the sole lead manager and bookrunner.
L&F is a leading manufacturer of cathode materials used for rechargeable lithium-ion batteries, manufactures and sells domestically and overseas a broad range of cathode materials, including high-nickel NCM and NCMA cathodes, which are primarily used for electric vehicle batteries.
The proceeds of the bonds will be used for construction of new manufacturing facilities to increase production capacities, purchase of raw materials, and general working capital purpose.
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