LG Electronics launches $800 million dollar bond

South Korea’s LG Electronics has launched a dollar bond deal to raise $800 million, according to a term sheet seen by Reuters on Thursday.

A 3-year bond will raise $500 million while a 5-year sustainable bond will raise $300 million, the term sheet showed.

LG Electronics did not respond to a request for comment sent outside of normal business hours.

The 3-year bond’s launch price was 3-year Treasuries plus 95 basis points while the 5-year price was 5-year Treasuries plus 110 basis points.

Initial price guidance given to potential investors earlier for the 3-year bond was 135 basis points over 3-year Treasuries while for the 5-year bond, it was 150 basis points over 5-year Treasuries.

LG Electronics is one of the largest home appliance and TV makers in the world.

The company intends to use the cash raised from the 3-year bond for general operations, including investment, and refinancing maturing debt, the term sheet showed.

The 5-year bond is a sustainable bond and proceeds will spent on green and social projects.

LG Electronics said last year it plans to become a global top 10 company in vehicle components by more than doubling revenue to 20 trillion won ($14.53 billion) by 2030.

It also plans to strengthen its service platforms on its home appliance and TV businesses that generate recurring profits, such as media subscriptions and rentals