Sony tumbles after saying to issue convertible bonds

TOKYO Wed Nov 14, 2012 8:00pm EST

A logo of Sony Corp is pictured at an electronic store in Tokyo June 27, 2012. REUTERS/Yuriko Nakao

A logo of Sony Corp is pictured at an electronic store in Tokyo June 27, 2012.

Credit: Reuters/Yuriko Nakao

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TOKYO (Reuters) - Shares of Sony Corp (6758.T) tumbled 10.5 percent to 778 yen on Thursday after the consumer electronics maker said it will raise $1.9 billion through a sale of convertible bonds, a third of which will be used for investment in Olympus Corp (7733.T).

If Sony shares were to finish the day with current losses, they would hit their lowest close since 1980, according to Thomson Reuters Datastream.

(Reporting by Dominic Lau; Editing by Edmund Klamann)

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