SK Telecom cuts conversion price on 1.75% notes due to cash dividend

By Susanna Moon

Chicago, March 11 - SK Telecom Co., Ltd. said it lowered the conversion price on its $332,528,000 1.75% convertible notes due 2014.

The conversion price is now 211,271 won, down from 220,000 won. The new price is effective retroactively to just after the record date of Dec. 31.

The adjustment was due to a cash dividend, which was approved by shareholders on Friday.

Citicorp International Ltd. is the trustee.

The notes were issued April 7, 2009.

Seoul-based SK Telecom is a mobile phone operator.

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