Sony Corp. said Monday it will raise funds for capital investment by issuing up to 250 billion yen worth of five-year Euroyen zero-coupon convertible bonds on Dec. 18.
With the date of payment also set for Dec. 18, the planned issue includes 30 billion yen for an option that allows underwriters to make additional sales when demand is strong.
Proceeds from the issue, due Dec. 18, 2008, will primarily be used to finance investments for the development and production of semiconductors, such as a highly advanced processor known as CELL, that will be embedded in a broad range of next-generation digital consumer electronics products, and key devices including display devices, Sony said.