Movement Alert|Sony Rises 3.03% in Regular Trading, Issues Dollar Bonds for First Time in Nearly 30 Years Plus New Sensor Launch

Market Focus06-24 21:45

On June 24, Sony rose 3.03% in regular trading, trading at $20.215/share, with turnover of $19.13 million. The stock was buoyed by a dual catalyst of its landmark return to the US dollar bond market and a new semiconductor product announcement.

Sony Group announced it will issue $1 billion in unsecured US dollar corporate bonds by end of June — its first dollar-denominated debt offering in 28 years since 1998. The issuance comprises $500 million in 5-year bonds at a coupon rate of 4.657% and $500 million in 10-year bonds at 5.089%, with spreads of approximately 70 and 90 basis points above comparable US Treasuries, respectively. The bonds are underwritten by Bank of America and Morgan Stanley, and are expected to receive an A2 rating from Moody's and A+ from S&P. Proceeds will be used for business investment. The company stated the issuance aims to diversify its investor base beyond Japan's domestic market.

Additionally, Sony Semiconductor unveiled the LYTIA 610 mobile CMOS image sensor featuring 64-megapixel resolution and a new pixel architecture, with mass production slated for month-end shipment.

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