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Showa Denko calls ¥21.792 billion of zero-coupon convertibles
By Susanna Moon
Chicago, Aug. 7 - Showa Denko KK said it would redeem ¥21.792 billion of outstanding zero-coupon convertible bonds due 2009.
The redemption date is Sept. 6. The company will pay par.
The convertibles are callable because the company share price (Tokyo: 4004) closed above 130% of the conversion price of ¥305 per share for 30 consecutive trading days, according to a press release.
The closing share price was ¥410 as of Aug. 6.
Showa Denko is a Tokyo-based company that operates five business segments: petrochemical, chemical, electronic, inorganic material and aluminum.
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