Press Release


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September 4, 2001



Issues of the Eleventh and the Twelfth Series Unsecured Bonds



Sony Corporation (the "Corporation"), today, has determined to issue 2 tranches of straight bonds, with total amount of 150 billion yen, under the domestic bond shelf registration (The unused maximum aggregate issue price under the shelf: 150 billion yen, effective period: through July 26, 2002). The Corporation intends to use the proceeds of the issues for the repayment of indebtedness including existing straight bonds, and for investment.

The terms of the issues are as follows:

The Eleventh Series Unsecured Bonds (the "Bonds")

1. Total amount of issue: 100 billion yen
2. Denomination of each Bond: 100 million yen
3. Form of Bonds: Bearer Bonds with Coupons
4. Interest rate: 0.64% per annum
5. Issue price: 99.99% of the principal amount
6. Redemption price: 100% of the principal amount
7. Maturity date: September 20, 2006
8. Offering period: September 4, 2001
9. Payment date: September 17, 2001
10. Method of offering: Public offering; provided, however, that the Bonds shall not be offered in the United States, or to any U.S. persons.
11. Security: The Bonds are not secured by any pledge, mortgage or other charge on any assets or revenues of the Corporation or of others nor guaranteed. There are no assets reserved as security for the Bonds.
12. Special Covenants: The Bonds are subject to certain covenants relating to the negative pledge.
13. Redemption prior to maturity: The Corporation may, at any time after the issue of the Bonds, purchase the Bonds and have such purchased Bonds canceled.
14. Interest payment dates: March 20 and September 20 of each year
15. Lead manager and Book- runner: The Nomura Securities Co., Ltd.
16. Fiscal agent: Sumitomo Mitsui Banking Corporation
17. Ratings: The Bonds have been given ratings of "Aa3" from Moody's Investors Service, Inc., "A+" from Standard & Poor's, and "AA+" from Rating and Investment Information, Inc.

The Twelfth Series Unsecured Bonds (the "Bonds")

1. Total amount of issue: 50 billion yen
2. Denomination of each Bond: 100 million yen
3. Form of Bonds: Bearer Bonds with Coupons
4. Interest rate: 1.52% per annum
5. Issue price: 99.99% of the principal amount
6. Redemption price: 100% of the principal amount
7. Maturity date: September 20, 2011
8. Offering period: September 4, 2001
9. Payment date: September 17, 2001
10. Method of offering: Public offering; provided, however, that the Bonds shall not be offered in the United States, or to any U.S. persons.
11. Security: The Bonds are not secured by any pledge, mortgage or other charge on any assets or revenues of the Corporation or of others nor guaranteed. There are no assets reserved as security for the Bonds.
12. Special Covenants: The Bonds are subject to certain covenants relating to the negative pledge.
13. Redemption prior to maturity: The Corporation may, at any time after the issue of the Bonds, purchase the Bonds and have such purchased Bonds canceled.
14. Interest payment dates: March 20 and September 20 of each year
15. Lead manager and Book- runner: The Nomura Securities Co., Ltd.
16. Fiscal agent: Sumitomo Mitsui Banking Corporation
17. Ratings: The Bonds have been given ratings of "Aa3" from Moody's Investors, Service Inc., "A+" from Standard & Poor's, and "AA+" from Rating and Investment Information, Inc.