LG.Philips LCD Co., Ltd. Form 6-K Summary
Business Context and Reporting Period
This Form 6-K, dated April 20, 2005, reports the completion of an overseas convertible bond issuance by LG.Philips LCD Co., Ltd., a foreign private issuer based in Seoul, Republic of Korea. The filing covers events occurring between April 12, 2005, and April 19, 2005.
Key Financial Metrics
The filing details a specific financing event rather than operational performance metrics such as revenue or profit.
- Instrument: Zero coupon convertible bonds due 2010.
- Aggregate Face Value: Up to USD 475 million (including a USD 75 million greenshoe option).
- Issued Amount (April 19): USD 400 million.
- Net Proceeds (April 19): USD 397.5 million (equivalent to KRW 406,046 million).
- Exchange Rate Used: KRW 1,021.50 to USD 1.00.
Material Changes
The primary material change is the successful closing of the bond issuance on April 19, 2005, following approval and subscription on April 12, 2005. The filing does not provide comparative financial data against prior periods as it is a transactional report.
Outlook, Risks, and Contingencies
Greenshoe Option: The bookrunners hold a greenshoe option of USD 75 million exercisable from April 12, 2005, to May 12, 2005. The final net proceeds will be disclosed in a subsequent filing if this option is exercised.
Restrictions: Pursuant to Korean Regulation on Securities Issuance and Disclosure Act, Korean residents are prohibited from acquiring these bonds or exercising rights thereunder for one year from the issuance date.
Operational Metrics: The filing text does not provide clear values for revenue, profit, cash flow, margins, or existing debt levels outside of this specific issuance.
Investor Verification Checklist
- Confirm whether the USD 75 million greenshoe option was exercised by May 12, 2005, to determine the final total proceeds.
- Verify the impact of the USD 397.5 million net proceeds on the company's overall liquidity and debt-to-equity ratio.
- Review the conversion terms and pricing of the zero coupon convertible bonds due 2010.
- Monitor subsequent filings for the final disclosure of net proceeds if the greenshoe option is utilized.