Aderans to redeem ¥10 billion of convertibles due 2019 at par Feb. 2

By Susanna Moon

Chicago, Dec. 7 – Aderans Co., Ltd. notified holders of an early redemption of its ¥10 billion of convertible bonds with stock acquisition rights due Oct. 7, 2019.

The convertibles will be redeemed at par on Feb. 2, according to the company notice.

The notes are being called because of the tender offer by Adherence Corp. for the company’s common shares, the notice said.

The conversion price is ¥2,133.

The company’s stock (Tokyo: 8170) closed at ¥618.00 on Tuesday.

The convertibles were issued Oct. 7, 2014.

Aderans manufactures custom-made and non-custom-made wigs and hairpieces for men and women. The company also operates beauty salons and sells hair-care products and is based in Tokyo.

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