Mar 04, 2009
Press Release
Panasonic Sets Terms and Conditions for its Domestic Unsecured Straight Bond Issues
Osaka, Japan, March 4, 2009 - Panasonic Corporation (Panasonic [NYSE symbol: PC]) announced that the company today determined terms and conditions for the issues of unsecured straight bonds in Japan in the aggregate principal amount of 400 billion yen. The basic terms for these domestic unsecured straight bond issues had been approved at Panasonic's board meeting of December 19, 2008.
Panasonic decided to issue the bonds in three series, with maturities of three (3), five (5) and ten (10) years, respectively.
The terms and conditions for each series - namely Panasonic's Sixth, Seventh and Eighth Series of Unsecured Straight Bonds - are set as follows:
| Series name | Sixth Series | Seventh Series | Eighth Series |
|---|---|---|---|
| Aggregate principal amount to be issued |
100 billion yen | 200 billion yen | 100 billion yen |
| Denomination of each bond |
100 million yen (a single kind) | ||
| Coupon rate (per annum) |
1.140% | 1.404% | 2.050% |
| Issue price | 100% of the principal amount | ||
| Interest payment dates | March 20 and September 20 of each year (First interest payment date will be September 20, 2009) |
||
| Maturity date (early redemption clause, if any) |
March 20, 2012 (No early redemption) |
March 20, 2014 (No early redemption) |
March 20, 2019 (No early redemption) |
| Payment date | March 10, 2009 | ||
| Fiscal agent | Sumitomo Mitsui Banking Corporation | ||
| - | Panasonic intends to use the proceeds from the bond issues to fund capital expenditures and purchases of investment securities (including acquisition of shares by M&A) and to raise working capital. |
| - | Panasonic set up a shelf registration for the issue of bonds with the maximum possible amount of 400 billion yen within a period of two years as from December 19, 2008. |
(This press release does not constitute an offer of securities in the United States. The securities referred to above have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.)
Media Contacts:
- Akira Kadota (Japan)
- International PR
- Tel: +81-3-3578-1237
- Panasonic News Bureau (Japan)
- Tel: +81-3-3542-6205
- Jim Reilly (U.S.)
- Tel: +1-201-392-6067
- Anne Guennewig (Europe)
- Tel: +49-611-235-457
Investor Relations Contacts:
- Kazuo Sasaki (Japan)
- Investor Relations
- Tel: +81-6-6908-1121
- Yoichi Nagata (U.S.)
- Panasonic Finance (America), Inc.
- Tel: +1-212-698-1362
- Hiroko Carvell (Europe)
- Panasonic Finance (Europe) plc
- Tel: +44-20-7562-4400
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