News Headline Summary

Sony (6758 JT) sell offers outnumber bids 8-1 after Moody's downgrade triggers the right to demand reimbursement

- Following Moody's downgrade of Sony to Baa3 on November 9th, a commercial customer has the right to demand reimbursement of remaining balance of advance payment.
- Customer has the right to demand maximum USD 585mln, which it would be obliged to reimburse the full amount.
- Co. is also to issue JPY in convertible bonds to help finance a series of investments.

Reaction details (00:15)

- Co.'s shares fall 9.2% at the re-opening.

15 Nov 2012 - 00:02 - Equities - Source: Newswires

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