Japan's Sony Corporation (ADR)(NYSE:SNE) on Wednesday
said that it was raising about $1.9 billion through a sale of convertible
bonds.
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About a third of the proceeds of the bond sale would
be used to invest in Olympus Corp, while some portion of it would also be used
to finance the acquisition of Gaikal Inc. and pay for a planned ramping up of
CMOS image sensors and pay down debt, it said.
Sony hired JPMorgan Chase & Co, Goldman Sachs,
Nomura Holdings and SMBC Nikko Securities to handle the offering.
The company has said earlier that the brand would be
rebuilt around its gaming, digital imaging and mobile devices, while new
businesses such as medical devices would be nurtured.
Shares of the company tumbled about 9% to $9.82.
ConocoPhillips(NYSE:COP) has won the award of highest
bidder for Block 749 in the state of Alaska, which had invited bids for
Alaska's North Slope Areawide 2012W Lease Sale.
Conoco's bid price was $171.93 a share for the block,
which is immediately adjacent to that of Royale Energy's Block 613 part of
33,736 acres in the company's Colville River holdings and part of Royale's
overall 91,060 acre holdings on state acreage on the North Slope. Royale's
overall average cost per acre is $27.21 and the cost of block 613 was $20.10
per acre.
Royale Energy announced after the results were made
public that it has just received the Award Notice and on November 6, executed
leases and delivered bonus and rental payments on 91,060.59 acres, which
constitutes all available acreage awarded to Royale in the North Slope Areawide
2011W Lease Sale. The company expects leases to become effective December 1,
2012 thereby enabling the commencement of a plan of development to be filed
with the state.
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