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MarketScreener Homepage  >  Equities  >  KOREA EXCHANGE  >  LG Display Co Ltd    A034220   KR7034220004

LG DISPLAY CO LTD

(A034220)
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LG Display Seeks to Raise Up to $700 Million via Convertible Bonds -Term Sheet

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07/30/2019 | 04:58am EST

By P.R. Venkat

South Korea's LG Display Co. Ltd. (034220.SE) is planning to raise up to $700 million via convertible bonds to partially finance its OLED-related business, according to a term sheet seen by The Wall Street Journal on Tuesday.

The convertible bonds will be due in 2024 and are likely to carry an annual coupon of 1.0%-1.5%, the term sheet shows.

If the bonds converted, it would translate to as many as 41 million shares at a conversion price of between 19,687.70 Korean won and 20,475 Korean won (US$16.65-US$17.31) each.

LG Display, one of the world's biggest makers of display panels used in smartphones and televisions, had said last week that it will continue stepping up efforts to shift to a business structure that is more focused on organic light-emitting diodes, or OLEDs, in the latter half of 2019. The company also stated plans for an additional US$2.53 billion investment in its OLED business.

Bank of America Merrill Lynch and Morgan Stanley are acting as advisors for the deal.

Write to P.R. Venkat at venkat.pr@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
BANK OF AMERICA CORPORATION -0.18% 33.09 Delayed Quote.34.29%
E.ON SE 0.04% 9.199 Delayed Quote.6.49%
LG DISPLAY CO LTD End-of-day quote.
MORGAN STANLEY 0.47% 49.07 Delayed Quote.23.76%
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Financials (KRW)
Sales 2019 23 225 B
EBIT 2019 -1 553 B
Net income 2019 -1 540 B
Debt 2019 10 592 B
Yield 2019 0,15%
P/E ratio 2019 -3,43x
P/E ratio 2020 -17,1x
EV / Sales2019 227x
EV / Sales2020 224x
Capitalization 5 260 B
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 29
Average target price 15 896,55  KRW
Last Close Price 14 750,00  KRW
Spread / Highest target 55,9%
Spread / Average Target 7,77%
Spread / Lowest Target -32,2%
EPS Revisions
Managers
NameTitle
Sang-Beom Han Chairman & Chief Executive Officer
Sung-Hyun Kim Managing Director & Head-Finance
Hyeong-Seok Choi Managing Director & Head-IT business
In-Byung Kang CTO & Senior Managing Director
Sung-Sik Hwang Independent Director
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