Source: GamesIndustry
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Sony Corp. has taken out an 80 billion Yen (545 million Euro) three-year floating-rate bank loan - marking the first time the company has borrowed funds in ten years.
According to Bloomberg.com, more than 20 Japanese lenders will contribute to the loan, which will be used to "diversify funding sources."
The report suggests that Sony has "tapped the country's expanding syndicated loan market as it offered a cheaper source of cash at a time when investors in corporate debt are demanding higher yields before an expected rise in Japanese interest rates this year."
