Mitsubishi Chemical cuts conversion price on 0% bonds due 2022, 2024

New York, June 26 – Mitsubishi Chemical Holdings Corp. reduced the conversion price for its zero-coupon convertible bonds due 2022 and zero-coupon convertible bonds due 2024, according to an announcement.

For the 2022 bonds, the conversion price is now ¥1,262.20, down from ¥1,276, while for the 2024 bonds the new price is ¥1,244.40, cut from ¥1,258.

Both changes are effective April 1.

The company made the change after the board of directors at a meeting on May 16 approved a year-end dividend of ¥17 per share for the fiscal year ended March 31.

Mitsubishi Chemical is a Tokyo-based manufacturer of chemicals and materials.

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