LG Uplus, one of the nation’s major telecom operators, denied a news report that it is seeking a loan amounting to $200 million.
“It is a totally groundless report,” said a spokesman for the telecom company, an affiliate of LG Group.
Quoting unnamed sources, Bloomberg reported that the Korean telecommunications and mobile phone operator has held discussions with banks for a two to three-year facility.
The news agency said the facility will be a loan-style floating rate note, a type of offshore loan typically arranged for Korean borrowers.
