SKT monetizes treasury shares

Korean telecom operator completes $329.5 million convertible

SK Telecom completed a convertible on Friday in order to make good its promise to monetize a portion of Treasury shares created by a previous share swap with Korea Telecom. Credit Suisse First Boston and Lehman Brothers were lead managers of the deal, which was timed to take advantage of a 3% spike in the company's share price in the trading day before launch.

The convertible has a five-year final maturity and was priced at par...

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