Wednesday, November 14, 2012

Sony Issues Convertible Bonds to Fund Image Sensors Capacity Expansion

Benzinga: Sony announces that it is planning to issue a 150 billion yen ($1.9 billion) zero coupon convertible bond maturing in 2017. The 60 billion yen ($750 million) is slated for the expansion of Sony's CMOS sensor production facilities in Nagasaki (announced on June 22, 2012, with an expected total capital expenditure of approximately 80 billion yen, expected to be completed during the first half of the fiscal year ending March 31, 2014).

1 comment:

  1. Presumably this - "Fitch cuts Sony, Panasonic debt ratings to "junk" status" - from 21 Nov - means that Sony will have to raise the yield on the new issue.

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