Nagoya Railroad cuts conversion price for 0% bonds due 2023, 2024

By Sarah Lizee

Olympia, Wash., June 26 – Nagoya Railroad Co., Ltd. said it lowered the conversion price for its ¥25 billion zero-coupon convertible bonds due 2023 and its ¥40 billion zero-coupon convertible bonds due 2024.

The new conversion price for the 2023 bonds is ¥1,926.7, adjusted from ¥1,928.3.

The new conversion price for the 2024 bonds is ¥2,909.9, adjusted from ¥2,912.4.

The adjustments resulted from a dividend payment that was approved at the shareholder meeting Wednesday, according to a notice.

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

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

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