Posted by: youngragingbull | May 24, 2013

Sony to raise 150B yen from retail bonds

Electronics giant Sony Corp. plans to raise 150 billion yen ($1.5 billion) in its first sale of bonds targeting retail investors.

The five-year notes will be priced to yield 0.8 percent to 1.4 percent, the Tokyo-based company said in a filing with Japan’s Finance Ministry Friday. Terms will be set on June 7 before Sony offers the debt to investors from June 10 to June 18, it said.

Sony joins SoftBank Corp. in planning to market bonds to Japan’s retail investors as it seeks to capitalize on its brand name to diversify funding.

Shares of Sony have more than doubled since the start of 2013 with support coming from a slumping yen, billionaire investor Daniel Loeb’s proposal to spinoff Sony’s entertainment assets, and anticipation for a new PlayStation gaming console.

Sony 6 months

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Responses

  1. SIDENOTE: Moody’s Investors Service rates Sony debt at Baa3, the risk assessor’s lowest investment grade, while Standard & Poor’s has a BBB rating, which is two levels above junk. Both have a negative outlook on Sony.


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