Teijin lowers conversion price of 0% convertible bonds due 2021

By William Gullotti

Buffalo, N.Y., Nov. 8 – Teijin Ltd. lowered the conversion price for its ¥20 billion zero-coupon convertible bonds due 2021 (ISIN: XS1142234506), according to a company notice on Monday.

The conversion price was trimmed to ¥1,829.3 from ¥1,840.1.

The new conversion price is effective retroactively from Sept. 30.

The adjustment was due to an extraordinary dividend of ¥27.5 per share approved at the company’s board meeting on Monday.

Teijin is a chemical and pharmaceutical company based in Osaka, Japan.

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