Sony plans to issue US dollar bonds for the first time in nearly thirty years.

The last time Sony Group issued bonds in the United States investment grade bond market, the first generation of PlayStation console was still in the market promotion stage. Nearly thirty years later, this Japanese conglomerate is preparing to re-enter the U.S. dollar bond market. According to sources who do not want to be named, Sony will issue two tranches of fixed-rate senior bonds. Underwriters are pricing these bonds to investors, with a spread of about 70 basis points for the 5-year bonds compared to U.S. Treasury bonds of the same maturity, and a spread of 90 basis points for the 10-year bonds. The pricing for this bond issuance may be determined later today. The sources stated that Bank of America and Morgan Stanley, the two underwriters, held a presentation call with bond investors on Monday. The registration documents submitted by Sony to the U.S. Securities and Exchange Commission show that the funds raised from this bond issuance will be used for general corporate purposes.