Kyushu Electric cuts conversion price on convertibles due 2020, 2022

By Marisa Wong

Los Angeles, Oct. 31 – Kyushu Electric Power Co. Inc. reduced the conversion price of its zero-coupon convertible bonds due 2020 and 2022.

The conversion price for the 2020 bonds was adjusted to ¥1,242.5 from ¥1,256.0.

The conversion price for the 2022 bonds was adjusted to ¥1,416.4 from ¥1,430.6.

The adjustments, effective as of Oct. 1, are due to payment of an interim dividend of ¥20 per share for the six months ended Sept. 30. The company’s board of directors approved the dividend at its meeting on Thursday.

The Japanese energy company provides residential, commercial and industrial power.

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