Shimizu to Issue 100 Billion Yen Zero-Coupon Convertible Bonds Due 2031, 2033
MT Newswires Live
Sep 24
Shimizu (TYO:1803) said its board agreed to issue 100 billion yen in zero-coupon convertible bonds due 2031 and 2033, according to a Tokyo bourse filing on Thursday.
The company will issue 50 billion yen in each convertible bond due 2031 and 2033 at an issue price of 100.5% with a zero coupon, with closing scheduled for Oct. 13, and will be redeemed at 100% on maturity.
The net proceeds of 90 billion yen will be used to fund mergers and acquisitions, and the remaining 10 billion yen will be used to repurchase common shares.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.