Reported 6 months ago
Suntory Holdings Ltd. priced a $500 million dollar bond, becoming one of few non-financial Japanese companies to enter the US dollar debt market this year. The proceeds from the five-year note sale will go towards general corporate purposes and debt repayment. Despite the yen's weakened state against the dollar affecting Japanese overseas bond sales this year, Suntory's new dollar bond spreads tightened to less than 70 basis points after the sale, reflecting investor interest. Suntory aims to expand globally amidst Japan's declining population, with recent reports suggesting a potential acquisition of Boston Beer Co., a US brewer. Additionally, the firm anticipates increasing whiskey output by 2027 to meet rising global demand.
Source: YAHOO