Toray lowers conversion price for 0% convertibles due 2019, 2021

New York, June 26 – Toray Industries, Inc. trimmed the conversion price for its zero-coupon convertible bonds due 2019 and its zero-coupon convertible bonds due 2021, according to a notice.

Effective April 1, the 2019 bonds are convertible at ¥879.50 per share, down from ¥883.70 per share, and the 2021 bonds convert at ¥816.40 per share, down from ¥820.30 per share.

Toray made the change following the approval by shareholders at a general meeting on Tuesday of an extraordinary dividend of ¥15 per share.

Toray is a Tokyo-based manufacturer of yarns, synthetic fibers and chemical products.

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