Sony Plans First Dollar Bond Issuance in Nearly 30 Years, With 5-Year Tranche at 70bp Spread

According to Bloomberg citing sources familiar with the matter, Sony Group plans to issue two tranches of senior fixed-rate dollar bonds today, with the 5-year tranche priced at approximately 70 basis points above comparable U.S. Treasury yields and the 10-year tranche at 90 basis points. Underwriters Bank of America and Morgan Stanley held conference calls with bond investors on Monday. The new bonds are expected to receive Moody's A2 rating and S&P A+ rating. Pricing is expected later today.
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