Kyushu Electric trims conversion price of 0% bonds due 2020, 2022

By Rebecca Melvin

New York, June 26 – Kyushu Electric Power Co. Inc. reduced the conversion price of its zero-coupon convertible bonds due 2020 and 2022.

The conversion price for the 2020 bonds was adjusted to ¥1,394.6 from ¥1,410.5, with a retroactive effective date of April 1, according to a notice.

The conversion price for the 2022 bonds was adjusted to ¥1,430.6 from ¥1,446.9 with the same effective date.

The adjustment is due to the payment of a dividend of ¥15 per share. The company’s shareholders approved the dividend at a meeting on Wednesday.

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

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