Terumo cuts conversion price on 0% convertible bonds due 2019, 2021

By Marisa Wong

Morgantown, W.Va., June 27 – Terumo Corp. said it lowered the conversion price on its ¥50 million zero-coupon convertible bonds due 2019 and ¥50 million zero-coupon convertible bonds due 2021.

The conversion price for the 2019 and 2021 bonds was lowered to ¥3,868.3 from ¥3,881, effective retroactively from the day after the March 31 record date.

The adjustments are due to an extraordinary dividend approved by shareholders at a meeting on Tuesday.

Terumo is a medical equipment company based in Tokyo.

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