Cosmo Energy trims conversion price on convertibles due 2022

By Mary-Katherine Stinson

Lexington, Ky., June 23 – Cosmo Energy Holdings Co., Ltd. announced it lowered the conversion price of its ¥60 billion zero-coupon convertible bonds due 2022, according to notice on Thursday.

The conversion price was lowered to ¥3,617 from ¥3,694.

The price adjustment is retroactively effective from March 31 and due to a year-end extraordinary dividend payment of ¥100 per share as approved at the shareholders’ meeting on June 23.

Cosmo Energy is a Japan-based company engaged in the development, import, refining, storage and sale of crude oil.

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