Shiga Bank lowers conversion price on 0% convertibles due 2020

By Marisa Wong

Morgantown, W.Va., June 24 – Shiga Bank, Ltd. gave notice that it lowered the conversion price for its $200 million subordinated zero-coupon convertible bonds due 2020 to $5.925 from $5.95.

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

The adjustment is due to extraordinary dividends.

The bank is based in Otsu, Shiga, Japan.

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