Sony plans its first dollar-bond sale in nearly three decades

Sony is set to issue its first US dollar-denominated bond in nearly three decades, with Bank of America and Morgan Stanley mandated as lead banks for a two-tranche offering of five- and ten-year maturities. Proceeds will be used for general corporate purposes, and the new notes are expected to be rated A2 by Moody's and A+ by S&P. The issuance comes amid a surge in high-grade dollar bond sales globally, as companies lock in tight credit spreads ahead of anticipated Federal Reserve rate hikes, and follows recent dollar and euro debt raises by Japanese peers including Denso, Mitsubishi, and Toyota.