L.G. Philips to offer $500 million five-year convertibles

By Jennifer Chiou

New York, April 9 - L.G. Philips LCD Co. Ltd. announced that its board approved plans to offer up to $500 million of five-year zero-coupon overseas unsecured convertible bonds.

There will be a $50 million over-allotment option.

L.G. Philips said that holders may put back their notes three years from the issue date. The company may also call the notes after the same period.

Seoul, Korea-based Philips, which makes display panels for electronics such as notebook computers, desktop monitors and televisions, said it would use proceeds for general capital expenditures.

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