Sony exercises clean-up call for ¥14.46 billion convertibles due 2017

New York, Dec. 18 – Sony Corp. said it will redeem its ¥14.46 billion of zero-coupon convertible bonds due 2017 through the exercise of the clean-up call.

The convertibles will be repaid on Jan. 30 at par.

Holders can convert the bonds into stock at a price of ¥957 per share through 10 a.m. ET on Jan. 27. Sony stock closed at ¥2,365 on Dec. 17.

The company originally priced ¥150 billion of the convertibles in November 2012.

Sony is a Tokyo-based electronics and entertainment company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.