Kawasaki Kisen trims conversion price for ¥50 billion 0% convertibles

By Susanna Moon

Chicago, June 24 – Kawasaki Kisen Kaisha, Ltd. lowered the conversion price for its ¥50 billion zero-coupon convertible bonds due 2018 to ¥305.6 from ¥308.1, effective retroactively to April 1.

The conversion price was adjusted because of the dividend of ¥2.50 per share approved at the shareholder meeting on Friday, according to a notice. The aggregate dividend amount is ¥5.00 per share for the fiscal year ended March 31, 2016.

Kawasaki Kisen Kaisha is a marine shipping company based in Tokyo.

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