Shizuoka Bank lowers conversion price for 0% convertibles due 2018

New York, June 17 – Shizuoka Bank Ltd. reduced the conversion price for its $500 million of zero-coupon convertible bonds due 2018 to $13.36 from $13.44.

The change, effective retroactively to April 1, was made following shareholder approval of payment of a dividend of ¥20 per share, according to a notice from the company. The dividend is treated as an extraordinary dividend under the terms of the convertibles.

Shizuoka Bank is a regional bank headquartered in Shizuoka, Japan and with operations in Shizuoka prefecture, Tokyo, Osaka, Nagoya and overseas.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.