Edion trims conversion prices on convertibles due 2021, 2025

By Marisa Wong

Los Angeles, June 26 – Edion Corp. said it adjusted the conversion price for its ¥15 billion zero-coupon convertible bonds due 2021 and ¥15 billion zero-coupon convertible bonds due 2025.

The conversion price for the 2021 bonds was lowered to ¥860.4 from ¥872.6, and the conversion price for the 2025 bonds was lowered to ¥1,190.8 from ¥1,207.7.

The adjustments are due to a dividend payment of ¥34 per share approved by shareholders on Friday, according to a notice.

The effective date of the change is April 1, the day after the March 31 record date.

Edion is an Osaka, Japan-based consumer electronics retailer.

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