Suzuki Motor lowers conversion price of 0% bonds due 2021, 2023

By Marisa Wong

Los Angeles, Dec. 10 – Suzuki Motor Corp. reduced the conversion prices of its zero-coupon convertible bonds due 2021 and 2023.

The conversion price of each series was lowered to ¥4,040.3 from ¥4,068.2, effective Dec. 10.

The adjustments are due to the consideration per share receivable by the company on the disposition of 24 million shares of its treasury shares by way of third-party allotment being less than the current market price per share on the date on which the company fixed the consideration, according to a company notice.

The issue of shares was resolved at a board of directors meeting on Aug. 28.

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

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