Nagoya Railroad shaves conversion price on 0% notes due 2023, 2024

By Susanna Moon

Chicago, June 27 – Nagoya Railroad Co., Ltd. said it lowered the conversion price for its ¥25 billion zero-coupon convertible bonds due 2023 and ¥40 billion zero-coupon convertible bonds due 2024.

The new conversion price for the 2023 bonds is ¥1,928.3, adjusted from ¥1,930.0, and the new conversion price for the 2024 bonds is ¥2,912.4, adjusted from ¥2,915.0.

The adjustments resulted from the dividend payment of ¥27.5 per share for the fiscal year ended March 31, which was approved at the shareholder meeting Wednesday, according to a notice.

The new conversion prices take effect April 1. The record date is March 31.

The railroad company is based in Nagoya, Aichi, Japan.

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