Sapporo Holdings calls zero-coupon convertible bonds due 2007

By Laura Lutz

Washington, Feb. 5 - Sapporo Holdings Ltd. plans to redeem all of its ¥6.415 billion outstanding principal amount of zero-coupon convertible bonds due 2007.

Holders may choose to convert the bonds until the close of business on the third business day before March 7, the redemption date.

Notes not converted before the deadline will be redeemed at their principal amount.

The redemption was trigged because the closing price of the shares was more than 125% of the conversion price of ¥532 per share for each of the 30 consecutive trading days ended Jan. 18.

Sapporo is a holding company for food, beverage and real estate companies.

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