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Shimizu Sets Terms for Zero-Coupon Convertible Bonds Due 2031, 2033

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Shimizu (TYO:1803) has determined the issue terms for two series of zero-coupon convertible bonds with stock acquisition rights, due 2031 and 2033.

For the 2031 bonds, the conversion price is set at 2,845 yen, representing a 21.04% premium over the Sept. 24 closing share price of 2,350.5 yen on the Tokyo Stock Exchange.

For the 2033 bonds, the conversion price is set at 2,704 yen, a 15.04% premium over the same closing share price, according to a bourse filing on Thursday.

In both cases, the amount to be contributed upon exercise of the stock acquisition rights equals the principal amount of the bonds.

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