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LG.Philips LCD Announces Pricing of $400 Million Convertible Bonds Offering
2005-04-13
The bonds are redeemable at maturity at a price of 117.49% of their principal amount, equivalent to a yield to maturity of 3.25% per annum. The bonds are convertible into LG.Philips LCD common stock at the option of the bondholders at an initial conversion price of KRW58,435 per share of common stock, subject to adjustment in certain circumstances. The initial conversion price is equivalent to a premium of 30% over the reported closing price per share of LG.Philips LCD common stock on the Korea Exchange on April 12, 2005. Approval in-principle has been obtained for the listing of the bonds on the Singapore Stock Exchange.
LG.Philips LCD intends to use the net proceeds from this offering to fund its capital expenditures in Korea.
This press release is not an offer for sale of the zero coupon convertible bonds due 2010 of LG.Philips LCD Co., Ltd. (the “Bonds”) in the United States. The Bonds may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. LG.Philips LCD Co., Ltd. does not intend to register any portion of the offering of the Bonds in the United States or to conduct a public offering of Bonds in the United States.
[About LG.Philips LCD]
LG.Philips LCD (NYSE: LPL, KRX: 034220) is a leading manufacturer and supplier of thin film transistor liquid crystal display (TFT-LCD) panels. The Company manufactures TFT-LCD panels in a wide range of sizes and specifications primarily for use in notebook computers, desktop monitors and televisions. Headquartered in Seoul, South Korea, LG.Philips LCD currently operates six fabrication facilities in Korea and has approximately 14,000 employees in locations around the world. For more information about the Company, please visit http://www.lgphilips-lcd.com.
Investor Relations Contacts:
Jay Hong (Korea)
LG.Philips LCD
Tel: +822-3777-1010
Email: jay.hong@lgphilips-lcd.com
Monica Huang (USA)
Sloane & Company
Tel: +1-212-446-1874
Email: Mhuang@sloanepr.com
Media Contacts:
Elliot Sloane (USA)
Sloane & Company
Tel: +1-212-446-1860
Email: ESloane@sloanepr.com
Sue Kim (Korea)
Edelman
Tel: + 822-2022-8239
Email: Sue.kim@edelman.com
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