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Sony Financial to raise ¥10B in bond issue

Japan's Sony Financial Holdings Inc. plans to raise ¥10 billion through the issuance of straight bonds.

The bonds will carry an annual interest rate of 0.220% and will mature Feb. 26, 2025. The company has Feb. 26 as the subscription date for the issuance.

The company said it plans to use funds raised from the issuance for new investments and loans.

Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. will serve as underwriter for the issuance.

As of Feb. 19, US$1 was equivalent to ¥106.58.