Sony Bonds 2

Sony Corporation has followed through on an expected bond issue. The company will issue unsecured straight bonds to raise $1.4 billion dollars to help finance the North American and European launch of the Playstation 2. Sony had initially suggested that bond funding would be an option after unveiling a billion dollar plan to increase PS2 chip production capacity. Both five and ten year bonds will be issued on September 30, with issue prices and coupons to be decided on August 30. This the first domestic Sony bond issue in seven years.