TOKYO, Apr 16 (Pulse News Wire) – Ferrotec Corporation (6890.T) corrected its previous announcement regarding the early redemption rights for its 2028 maturity Euro-yen convertible bonds with detachable warrants. According to the revised statement, the conditions set forth in the bond prospectus related to the stock price condition of 130%Call Option Joukou were met on March 24, 2026, triggering the right to redeem the remaining bonds at their face value of 100%.
The company decided today to exercise this right. The redemption is scheduled for June 22, 2026, but unforeseen events such as sudden changes in market conditions could prevent the company from exercising this right. In case the redemption proceeds, Ferrotec will notify bondholders according to the stipulations outlined in the bond prospectus.
In the initial announcement made on March 26, 2026, there was an error concerning the date when the stock price condition was satisfied. The correction clarifies that the condition was indeed met on March 24, 2026, rather than the previously stated date. Additionally, the company plans to inform bondholders of the redemption execution on April 23, 2026.
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