South Korea-based mobile operator LG Telecom has sold a $120 million floating rate note (FRN) to repay maturing debt.

South Korea-based mobile operator LG Telecom has sold a $120 million floating rate note (FRN) to repay maturing debt. The FRN, with a one and a half year maturity, has a coupon rate of 300 basis points above Libor. LG Telecom has a $200 million dollar bond maturing in July 2009.