Suzuki issues clean-up call for zero-coupon convertibles due 2023

By Mary-Katherine Stinson

Lexington, Ky., Nov. 16 – Suzuki Motor Corp. issued a clean-up call for its zero-coupon convertible bonds due March 31, 2023, according to an announcement.

The board of directors determined the conditions for the clean-up call had been met at a Nov. 16 meeting.

All outstanding ¥8.56 million bonds will be redeemed early at par on Jan. 6.

The last date for the exercise of stock acquisition rights is Dec. 1.

The bonds were issued April 1, 2016 in an original issue size of ¥100 billion.

Suzuki is a Japanese multinational company specializing in automobiles, four-wheel drive vehicles and motorcycles.

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