Suzuki cuts conversion price on zero-coupon bonds due to dividend

By Mary-Katherine Stinson

Lexington, Ky., Nov. 8 – Suzuki Motor Corp. reduced the conversion price on its zero-coupon convertible bonds due 2023, according to an announcement.

The new conversion price is ¥3,905.5, reduced from ¥3,915.5.

The change is due to an extraordinary dividend payment of ¥50 per share approved at a board of director’s meeting on Nov. 8.

The retroactive effective date is Oct. 1.

Suzuki is a Japanese multinational company specializing in automobiles, four-wheel drive vehicles and motorcycles.

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