Onkyo To Issue 760 Million Yen Convertible Bond To Intel Capital
Subject: General Tech | January 27, 2005 - 10:59 PM | Joe White
Intel and Onkyo to Cooperate in Audio and Visual Technology Development to Accelerate PC and CE Convergence
TOKYO , Jan. 24, 2005 -- Onkyo Corporation announced today that its board of directors has approved the sale to Intel Capital of a convertible bond having a face value of approximately Â¥760 million (approximately US$7.4 million at present exchange rates). The bond, which would be issued in February, subject to compliance with regulatory procedures and other customary conditions, would mature in March 2009 and would be convertible at Intel's option into Onkyo common stock. The proceeds would be used to extend Onkyo's home theatre technologies by developing and commercializing advanced audio and visual systems that complement Intel's digital home solutions.
Source: Intel Press Room