Japan’s Gunma Bank shaves conversion price for $200 million 0% bonds

By Susanna Moon

Chicago, June 27 – Gunma Bank, Ltd. reduced the conversion price for its $200 million of zero-coupon convertible bonds due 2019.

The conversion price is now $6.451, retroactive from April 1, adjusted from $6.477.

The adjustment was due to a year-end dividend of ¥6 per share approved at the shareholder meeting on June 27, bringing the aggregate dividend amount to ¥12 per share for the fiscal year ended March 31, 2017, according to a notice.

The five-year convertibles were issued on Oct. 14, 2014.

Gunma is a regional bank based in Maebashi-Shi, Japan.

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