LG Philips completes debut CB

Has the world''s largest flat panel manufacturer misstimed another benchmark deal?

To the surprise of some market observers, LG Philips LCD returned to the international capital markets yesterday April 12 with a $400 million convertible. The deal was launched on a day when the company reported a poorer than expected first quarter operating loss of Won162 billion $160 million, leading to a stock price decline of 3.8%.

As such, many wondered why the company did not give the market a few days to digest the news...

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