Bank of Iwate lowers conversion price on convertible bonds due 2018

By Marisa Wong

Morgantown, W.Va., June 23 – Bank of Iwate, Ltd. announced it adjusted the conversion price for its $100 million zero-coupon convertible bonds due 2018 due to an extraordinary dividend.

The conversion price was lowered to $49.85 from $49.98.

The new conversion price is effective retroactively from the day after the March 31 record date.

The regional bank is based in Morioka, Japan.

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