Korea's SK Telecom cuts exchange price on $333 million exchangeables

By Marisa Wong

Milwaukee, March 16 - Korea's SK Telecom Co., Ltd. has adjusted the exchange price on its $332.528 million exchangeable bonds issued April 7, 2009, according to a 6-K filing with the Securities and Exchange Commission.

The price was lowered to 221,370 won from 230,010 won. The number of exchangeable shares was increased to 2,078,055 from 1,999,997 shares.

The exchange price adjustment, which was confirmed March 12, is due to a year-end dividend payment.

Seoul-based SK Telecom is a mobile phone operator.

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