Sony tumbles after saying to issue convertible bonds

Shares of Sony Corp tumbled 10.5 per cent to 778 yen on Thursday after the consumer electronics maker said it will raise US$1.9 billion through a sale of convertible bonds, a third of which will be used for investment in Olympus Corp. If Sony shares were to finish the day with current losses, they would hit their lowest close since 1980, according to Thomson Reuters Datastream.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1082861/sony-tumbles-after-saying-issue-convertible-bonds