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LPL » Topics » Amendment to Issuance of Overseas Convertible Bonds

This excerpt taken from the LPL 6-K filed Apr 12, 2007.

Amendment to Issuance of Overseas Convertible Bonds

 

1. Convertible Bond Status:    The Convertible Bonds constitute direct, unconditional, unsubordinated and unsecured debt obligation in registered form
2. Aggregate face value:    Up to USD 500 million, including greenshoe option of up to USD 50 million
3. Offering for CB:    Outside of the United States in reliance on Regulation S of the Securities Act of 1933.
4. Listing :    Singapore Exchange
5. Use of proceeds:    General corporate purpose including capital expenditures
6. Interest rate   

A. Coupon rate:

    Zero Coupon

B. Yield to maturity:

    3.125% per annum
7. Maturity date:    April 18, 2012
8. Method of principal repayment   

A. Repayment on maturity date:

    Unless previously redeemed, repurchased and cancelled, or converted, the Bonds will be redeemed at 116.77% of the principal amount.

B. Put option:

    Any holder of convertible bonds is entitled to exercise its put option on the day after 3 years from the issuance date at 109.75% of the principal amount.

C. Call option:

    LPL is entitled to exercise a call option after 3 years from the closing date at the amount of the principal and interests (calculated by 3.125% of the yield to maturity) from the closing date to the repayment date. (Call option can be exercised only when the market price of the Common Shares on at least each of 20 trading days in 30 consecutive trading days ending on the trading day immediately prior to the date upon which notice of such redemption is published exceeds 130% of the conversion price.)
9. Terms of conversion   

A. Conversion ratio:

    100%

B. Conversion price:

    KRW 49,070 / share

C. Class of shares issuable upon conversion:

    Registered common shares

D. The number of shares issuable upon conversion:

    10,464,234 shares (including 951,294 shares when greenshoe option is fully exercised)

E. Conversion period:

    From April 19, 2008 to April 3, 2012
10. Pricing date:    April 11, 2007
11. Closing date:    April 18, 2007
12. Bookrunner:    Morgan Stanley & Co. International Limited
13. Others   

 

  A. The above aggregate face value of the convertible bonds includes the greenshoe option which gives the bookrunner the right to purchase additionally up to USD 50 million of the convertible bonds.

 

  B. Korean residents, as defined in the Foreign Exchange Transaction Law of Korea, are prohibited from acquiring or exercising any rights under the convertible bonds within a 1 year period from the date of issuance of the convertible bonds.

 

  C. The CB will be originally issued in registered form, in principal amount of USD 100,000 or an integral thereof.

 

  D. Lock-up obligation for 90 days after the date of purchase agreement shall be applied to LG.Philips LCD, LG Electronics and Philips Electronics.

 

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