Edion reduces conversion price on convertibles due 2021, 2025

By Sarah Lizee

Olympia, Wash., June 27 – Edion Corp. said it adjusted the conversion price for its ¥15 billion zero-coupon convertible bonds due 2021 and ¥15 billion zero-coupon convertible bonds due 2025.

The conversion price for the 2021 bonds was lowered to ¥872.6 from ¥883.3, and the conversion price for the 2025 bonds was lowered to ¥1,207.7 from ¥1,222.5.

The adjustments are due to distribution of an extraordinary dividend of ¥32 per share approved by shareholders on Thursday, according to a notice.

The effective date is April 1, and the record date is March 31.

Edion is an Osaka, Japan-based consumer electronics retailer.

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