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SAF-Holland cuts conversion price of €100.2 million 1% bonds due 2020
By Susanna Moon
Chicago, April 28 – SAF-Holland SA said it lowered the conversion price of its €100.2 million 1% convertible bonds due Sept. 12, 2020.
The conversion price was reduced to €12.1823 from €12.3291, and the conversion ratio was adjusted to 8,208.6306 from 8,110.8921, effective Friday.
The adjustment is due to a cash dividend approved at a shareholder meeting on Thursday, with the payment of €0.40 per share payable to the shareholders on April 29, according to a company announcement.
The company’s stock (ETR: SFQ) closed at €10.85 on April 27.
SAF-Holland SA is a Luxembourg-based supplier to the commercial vehicle market in Europe.
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