Oita Bank trims conversion price on zero-coupon convertibles due 2019

By Rebecca Melvin

New York, June 26 – Oita Bank, Ltd. announced an adjustment to the conversion price on its $100 million zero-coupon convertible bonds due 2019.

The new conversion price will be $41.033, adjusted from $41.287, which is retroactively effective from April 1.

The adjustment reflects the dividend payment approved by shareholders at a meeting Wednesday in the amount of ¥40 per share (in addition to the interim dividend of ¥40 previously paid during the fiscal year).

The bank is based in Oita, Japan.

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