Edion lowers conversion price on ¥15 billion zero-coupon convertibles due 2025

By William Gullotti

Buffalo, N.Y., June 29 – Edion Corp. announced an adjustment to the conversion price for its ¥15 billion zero-coupon convertible bonds due 2025.

The conversion price for the bonds was lowered to ¥1,161.2 from ¥1,190.8.

The adjustments are due to a dividend payment of ¥46 per share approved by shareholders on Tuesday, according to the 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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