Sony returns to US dollar bond market after 1998 hiatus
Sony is making a comeback in the US dollar bond market for the first time since 1998.
With borrowing costs rising back home in Japan, Sony and other big Japanese companies are looking overseas for cheaper ways to raise money.
Bank of America and Morgan Stanley have already started chatting with investors about this deal.
Sony plans 5 and 10-year bonds
Sony's offering will be split into two parts: five- and 10-year bonds, meant to fund its general business plans.
This follows a trend where Japanese firms like Denso and Mitsubishi are also tapping international markets.
Sony's bonds are expected to get solid ratings (A2 from Moody's, A+ from S&P), thanks to strong earnings and cash flow, especially after S&P boosted its rating earlier this year as Sony shifts focus toward entertainment growth.