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LG.Philips LCD gets additional funds for new plants

Posted: 19 Apr 2005 ?? ?Print Version ?Bookmark and Share

Keywords:flat panel tv receivers? lcd?

Panel maker LG.Philips LCD Co. Ltd has recently announced that it is offering bonds valued at $400 million in zero coupon convertible bonds to mature in 2010.

The company will use the net proceeds for its sixth-generation (6G) facility, which was completed last September, as well as its 7G plant which is still in the planning stage. These facilities are slated for the production of panels used in flat panel TV receivers.

The initial sale is scheduled to close April 19, 2005 and still depends on customary closing conditions. The company also gives initial purchasers a 30-day option to buy as much as additional $75 million aggregate principal amount.

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