[July 03, 2006] Sony Corp takes out US$698 mln syndicated loan Tweet (Asia In Focus Via Thomson Dialog NewsEdge) TOKYO, July 4 Asia in Focus - Japan's SONY CORP. (TSE:6758) has taken out an 80 billion yen (US$698 million) syndicated loan from a group of 20 or so domestic financial institutions to diversify its sources of funding, The Nihon Keizai Shimbun learned Monday. The move marks the major electronics firm's first bank loan since 1995. * Until now, Sony had relied mainly on direct financing, issuing corporate bonds to pay for its capital spending and for other needs. * The loan, lead-managed by MIZUHO CORPORATE BANK, was extended Thursday. SUMMARY Sony Corp takes out US$698 mln syndicated loan to diversify its sources of funding, its first bank loan since 1995 ASIA IN FOCUS 04-07 1333 [ Back To TMCnet.com's Homepage ]