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 and let potential CB investors see how the stock settles.
However, LGP's decision to jump straight into the market is perhaps not that surprising given its burgeoning reputation for failing...
