LG.Philips LCD in $400 Million Convertible Bond Offering

April 19, 2005

Cleary Gottlieb represented LG.Philips LCD Co., Ltd. in its $400 million Reg S offering of zero coupon convertible bonds due 2010.  Citigroup, Morgan Stanley and UBS were the joint global coordinators for the transaction.

The offered bonds are convertible into LG.Philips LCD’s common shares, which are listed on the Stock Market Division of the Korea Exchange.  The bonds are listed on the Singapore Stock Exchange.

LG.Philips LCD is the world’s largest merchant supplier of large-size TFT-LCD panels.  It was formed in 1999 as a 50-50 joint venture between LG Electronics and Philips Electronics.  In July 2004, Cleary represented LG.Philips LCD in its $1 billion initial public offering of common stock and American Depositary Shares on the Korea Exchange and New York Stock Exchange.