T&D Insurance trims conversion price on 0% convertibles due 2020

By Rebecca Melvin

New York, June 26 – T&D Holdings Inc. announced an adjustment to the conversion price on its ¥30 billion zero-coupon convertible bonds due 2020.

The conversion price was revised to ¥2,637.2 from ¥2,671.4, which is retroactively effective from March 31.

The adjustment reflects the dividend payment approved by shareholders at a meeting Wednesday in the amount of ¥42 per share paid for the year.

The insurance holding company is based in Japan.

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