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Teijin reduces conversion price for zero-coupon notes due 2018, 2021
By Susanna Moon
Chicago, Nov. 2 – Teijin Ltd. lowered the conversion price for its zero-coupon convertible bonds due 2018 and zero-coupon convertible bonds due 2021.
The conversion price was cut to ¥2,026.0 from ¥2,035.7 for the 2018 convertibles.
For the 2021 bonds, the conversion price was trimmed to ¥1,991.7 from ¥2,001.3.
The adjustment, effective as of Oct. 1, was due to the dividend of ¥30 per share approved at the company’s board meeting on Thursday, according to a notice from the issuer.
Teijin is a chemical and pharmaceutical company based in Osaka, Japan.
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