Mebuki cuts conversion price on $300 million of 0% bonds due 2019

By Susanna Moon

Chicago, May 11 – Mebuki Financial Group, Inc. notified holders that it lowered the conversion price of its $300 million of zero-coupon convertible bonds due 2019.

The conversion price is now $5.03, reduced from $5.07, retroactively from April 1.

The reduction is due to the year-end dividend of ¥5.50 per share approved at a board meeting on Friday, according to a company announcement.

As a result, the aggregate amount of dividends for the fiscal year ended March 31, 2018 is ¥11.00 per share.

The convertibles were issued by Joyo Bank, Ltd. on April 24, 2014 and succeeded to by Mebuki Financial.

Mebuki provides banking services and is based in Chuo-Ku, Japan.

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