Japan’s Sega Sammy Holdings has announced the issuance of unsecured straight corporate bonds to the value of JPY10 billion (US$94 million).
The company, which develops video arcade games as well as pachinko and pachislot machines and has revealed plans to pursue a Japanese IR license, didn’t offer a reason for the bonds issuance although it revealed the bonds “are neither secured by any collateral nor guaranteed, and there are no particular assets reserved as security for the Bonds.”
The bonds boast a 10-year term and an interest rate of 0.38% per annum, with a maturity date of 10 October 2029.
Sega Sammy was formed in 2004 following a merger between video gaming giant Sega and pachinko developer Sammy, however it has more recently dipped its toes into integrated resort operations as a 45% equity partner in Korean IR Paradise City, majority owned by Paradise Co. The two companies have also hinted they may continue the partnership in pursuit of a Japan IR license.
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