Sekisui House lowers conversion price of 0% convertibles due 2016

By Marisa Wong

Madison, Wis., April 23 – Sekisui House, Ltd. said it lowered the conversion price of its ¥50 billion zero-coupon convertible bonds due 2016 to ¥991.1 from ¥995.3.

The new conversion price is effective retroactively to the day after the record date for the extraordinary dividend that triggered the adjustment. The dividend was approved at a shareholders’ meeting on Wednesday. The record date was Jan. 31.

Sekisui is a homebuilder based in Osaka, Japan.

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