Sony To Raise $1.5 Billion To Pay Off Debt And Invest In Technology From Bond Sale

Posted on May 24 2013 - 11:27am by Editorial Staff

With reporting positive net profit of $458 million for the first time in five years and recently sharing achievements of its supremo Kaz Hirai for the last fiscal year, the company today announced that it is aiming for to raise $1.5 billion from bond sale in order to pay off debt and invest in technology.

The Japanese giant aims to raise the capital by selling bonds to Japanese retail investors while the bonds have a five-year maturity rate and are priced to yield 0.8 percent to 1.4 percent growth over the period, reports Bloomberg. The company will start issuing bonds from June 19.

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