Line adjusts conversion on zero-coupon bonds due 2023, 2025

By Taylor Fox

New York, Sept. 24 – Line Corp. adjusted the conversion price for its zero-coupon convertible bonds due 2023 and zero-coupon convertible bonds due 2025, effective Sept. 25, according to a 6-K filing with the Securities and Exchange Commission.

The conversion price on the bonds due 2023 has been reduced to ¥5,830.1 from ¥7,467, and the conversion price on the 2025 bonds has been revised to ¥5,602.5 from ¥7,518.

The conversion price was adjusted due to the joint tender offer for the shares of Line by Softbank Corp. and Naver J. Hub Corp. with the intent of delisting such shares.

Line is a Tokyo-based subsidiary of the South Korean internet search engine company Naver Corp.

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