Sony Group Files for Dual-Tranche US Senior Notes Offering Due 2031 and 2036
Sony Group (TYO:6758) plans to issue US dollar-denominated senior notes in two series, maturing in 2031 and 2036, with semiannual interest payments starting in late period of the year, according to a US Securities and Exchange Commission filing on Monday.The offering is jointly managed by BofA Securities, Morgan Stanley, and J.P. Morgan as joint lead managers and joint bookrunners.The unsecured, unsubordinated notes will rank equally with Sony's other senior obligations, lack financial covenants or dividend restrictions, and offer no special protections for leveraged buyouts or control changes.Each series is redeemable early under specific optional and tax-related conditions, carries no sinking fund requirement, and will be issued in global registered form with minimum denominations of $2,000.The notes are governed by an indenture with The Bank of New York Mellon as trustee.