Takefuji sets conversion price on ¥70 billion of 10-year convertible bonds

By Rebecca Melvin

New York, June 18 - Takefuji Corp. said the initial conversion price on its ¥70 billion of 10-year euro-yen convertible bonds will be ¥2,352, which equals 123% of the average of the volume-weighted average price between May 26 and June 18, according to a release.

UBS AG, London Branch is underwriting the offering.

Closing on the issue of bonds will be June 19.

Their maturity is June 19, 2018.

Proceeds will be used primarily for working capital and debt repayment.

Tokyo-based Takefuji is a consumer finance services company.

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