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Investing.com -- Kioxia Holdings Corp. is planning to raise as much as $3 billion through its first-ever corporate debt issuance in the form of a dollar bond sale, indicating growing investor interest in Japanese company notes, including those from riskier firms.
The Tokyo-based memory-chip maker has hired several financial institutions as joint lead managers for the offering, including Morgan Stanley (NYSE:MS) and Goldman Sachs Group Inc (NYSE:GS). Investor meetings for the bond sale are scheduled for Monday, according to Bloomberg, citing people familiar with the matter.
Kioxia currently holds a BB+ credit rating from both S&P Global Ratings and Fitch Ratings, positioning the company one step below investment grade.
The planned bond issuance represents Kioxia joining other Japanese peers who have sought financing in international markets.
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