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LG Display issues clean-up call for 1.5% convertibles due 2024
By Mary-Katherine Stinson
Lexington, Ky., Sept. 21 – LG Display Co., Ltd. issued a clean-up call for the remaining outstanding $20.8 million of its 1.5% convertible bonds (ISIN: XS2036529415) due 2024, according to an announcement.
The bonds will be redeemed at par plus interest on Oct. 24.
Accrued interest is $516.67 per calculation amount of $200,000.
As of Sept. 20, the conversion price of the bonds was KRW 19,165 per share for the conversion period of Aug. 23, 2020 to Oct. 13, 2022. The closing share price as of Sept. 19 was KRW 14,300 per share.
The subscription agreement was dated July 30, 2019 between the issuer, Merrill Lynch International and Morgan Stanley & Co. International plc.
The original issue size was $687.8 million.
LG Display is a Seoul, South Korea-based maker of electronic display panels.
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