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Sega to buy back up to ¥5 billion convertibles
New York, June 29 - Sega Corp. said it plans to buy back up to ¥5 billion of its series 5 unsecured convertible bonds.
The repurchase was approved by the directors of the Tokyo-based video games company at a meeting Tuesday.
Sega said it is also considering holding a bondholders' meeting to amend the convertibles so that they can be redeemed early at an expected price of ¥117 per ¥100 principal amount. The redemption would be part of its proposal to merge with Sammy Corp.
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