LG.Philips LCD Co., Ltd. Form 6-K Summary
Business Context and Reporting Period
This Form 6-K was filed on October 5, 2004, by LG.Philips LCD Co., Ltd., a foreign private issuer headquartered in Seoul, Republic of Korea. The filing reports on an overseas issuance of floating rate notes approved on the filing date.
Key Financial Metrics and Transaction Details
The filing details a private placement of U.S. dollar-denominated floating rate notes in the Euro market. The transaction specifics are as follows:
- Aggregate Face Value: US$200 million
- Coupon Rate: 3M Libor + 0.6%
- Maturity Date: October 8, 2007
- Interest Payment: Quarterly in arrears
- Principal Payment: 100% on maturity date
- Arranger: ABN AMRO Bank N.V.
The filing does not provide data on revenue, profit, cash flow, operating margins, or existing debt levels outside of the refinancing context.
Material Changes and Use of Proceeds
The primary material event is the new debt issuance. The proceeds are allocated as follows:
- Refinancing: US$140 million for the refinancing of existing debt.
- Capital Expenditures: US$60 million for CAPEX.
Outlook, Risks, and Contingencies
The notes are unregistered, non-guaranteed, and unsecured. The company retains a call option to redeem the principal amount, exercisable on any interest payment date occurring one year and one day after the issuance date. The filing notes that the issuance and maturity dates are not fixed and are subject to change.
Investor Verification Checklist
- Verify the final issuance date and maturity date, as the filing states these are subject to change.
- Confirm the specific existing debt instruments being refinanced with the US$140 million portion of the proceeds.
- Review the company's latest Form 20-F for comprehensive liquidity and leverage ratios not included in this transaction-specific filing.
- Monitor the 3M Libor rate to determine the actual interest cost, as the coupon is variable.