Lenovo trims conversion price for 3.375% convertibles due 2024

By Sarah Lizee

Olympia, Wash., July 9 – Lenovo Group Ltd. adjusted the conversion price of its $675 million 3.375% convertible bonds due 2024, according to a notice.

The conversion price will be lowered to HK$7.23 per share from HK$7.62 per share, effective July 16.

The adjustment is due to the declaration of an interim cash dividend of HK$21.5 per share.

Lenovo is a Beijing-based technology company.

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