Sony Group Corp. was still marketing the original PlayStation when it last tapped the US investment-grade bond market. Almost three decades later, it’s readying a comeback.
The company mandated Bank of America Corp. and Morgan Stanley to hold calls with debt investors that started on Monday, according to a person with direct knowledge of the matter. A two-tranche note offering with maturities of five and 10 years is expected to follow, the person added, asking not to be identified disclosing private information.
The offering, which Sony said in a Securities and Exchange Commission filing will raise cash for general corporate purposes, is part of a rush of high-grade bond sales in the US. Companies have moved to lock in historically tight credit spreads while expectations grow that the Federal Reserve may begin to raise interest rates.
