Kyushu Electric cuts conversion price on convertibles due 2020, 2022

By Marisa Wong

Morgantown, W.Va., June 27 – Kyushu Electric Power Co., Inc. said it adjusted the conversion price for its zero-coupon convertible bonds due 2020 and 2022.

The conversion price for the 2020 bonds was lowered to ¥1,416.2 from ¥1,428.2, and the conversion price for the 2022 bonds was lowered to ¥1,452.8 from ¥1,465.1.

The changes are due to payment of a dividend of ¥20 per share approved by shareholders on Wednesday.

The new conversion prices are effective retroactively from April 1.

The energy company is based in Fukuoka, Japan.

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