Kyushu Electric cuts conversion price on 0% convertibles due 2022

By William Gullotti

Buffalo, N.Y., June 25 – Kyushu Electric Power Co. Inc. reduced the conversion price of its zero-coupon convertible bonds due 2022 to ¥1,354.6 from ¥1,379.9, according to a notice.

The adjustment, effective as of April 1, is due to payment of a dividend of ¥17.5 per share approved at a shareholders’ meeting on Friday.

The Japanese energy company provides residential, commercial and industrial power.

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