Sony 1998 Annual Report Download - page 62

[60] Sony Corporation Annual Report 1998
Long-term debt at March 31, 1998 comprises the following:
Yen in millions Dollars in thousands
Unsecured loans, representing obligations principally to banks, due 1998 to
2017 with interest ranging from 1.0% to 9.25% per annum . . . . . . . . . . . . . . . ¥ 83,158 $ 629,985
Secured loans, representing obligations principally to banks, due 1999 to 2003
with interest ranging from 3.0% to 10.13% per annum . . . . . . . . . . . . . . . . . . 4,148 31,424
Medium-term notes of consolidated subsidiaries due 1998 to 2006 with interest
ranging from 3.41% to 8.04% per annum . . . . . . . . . . . . . . . . . . . . . . . . . . . 231,419 1,753,174
Unsecured 2.0% convertible bonds due 2000, convertible currently at ¥4,159.9
($31.51) for one common share, redeemable before due date. . . . . . . . . . . . . . 342 2,591
Unsecured 0.15% convertible bonds due 2001, convertible currently at ¥6,519
($49.39) for one common share, redeemable before due date. . . . . . . . . . . . . . 105,882 802,136
Unsecured 1.5% convertible bonds due 2002, convertible currently at ¥4,387.9
($33.24) for one common share, redeemable before due date. . . . . . . . . . . . . . 772 5,848
Unsecured 1.4% convertible bonds due 2003, convertible currently at ¥5,415.5
($41.03) for one common share, redeemable before due date. . . . . . . . . . . . . . 17,428 132,030
Unsecured 1.4% convertible bonds due 2005, convertible currently at ¥7,990.9
($60.54) for one common share, redeemable before due date. . . . . . . . . . . . . . 297,772 2,255,848
Unsecured 0.1% bonds, due 1999 with detachable warrants . . . . . . . . . . . . . . . . 1,000 7,576
Unsecured 0.1% bonds, due 2000 with detachable warrants . . . . . . . . . . . . . . . . 2,000 15,152
Unsecured 0.1% bonds, due 2001 with detachable warrants . . . . . . . . . . . . . . . . 3,500 26,515
Unsecured 6.875% bonds due 2000, net of unamortized premium . . . . . . . . . . . . 50,149 379,917
Unsecured 4.4% bonds due 2001 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80,000 606,061
Unsecured 6.125% notes due 2003, net of unamortized discount . . . . . . . . . . . . . 193,022 1,462,288
Unsecured 1.95% bonds of a consolidated subsidiary, due 1998. . . . . . . . . . . . . . 15,000 113,636
Unsecured 2.55% notes of a consolidated subsidiary, due 2000 . . . . . . . . . . . . . . 5,000 37,879
Unsecured 5.01% notes of a consolidated subsidiary, due 2000 . . . . . . . . . . . . . . 25,362 192,136
Unsecured 2.0% bonds of a consolidated subsidiary, due 2001 . . . . . . . . . . . . . . 15,000 113,636
Unsecured 2.5% bonds of a consolidated subsidiary, due 2003 . . . . . . . . . . . . . . 15,000 113,636
Unsecured fixed coupon notes linked to the Yen/U.S. dollar rate of a consolidated
subsidiary, due 2001 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 859 6,508
Secured 3.8% bonds of a consolidated subsidiary, due 2001,
redeemable before due date . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,000 22,727
Long-term capital lease obligations, 1.15% to 16.28% per annum,
due 1998 to 2006 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26,863 203,508
Guarantee deposits received . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,538 94,985
1,189,214 9,009,196
Less — Portion due within one year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 84,794 642,378
¥1,104,420 $8,366,818
On September 1, 1995, the company issued ¥1 billion ($7,576 thousand) of 0.1% bonds, with detachable 500
warrants. One warrant, which became exercisable from October 1, 1995, entitles the holder to subscribe ¥2 million
($15 thousand) for shares of common stock of the company at ¥5,330 ($40) per share (subject to adjustment in
certain circumstances). Upon issuance of the bonds, the company bought all of these warrants and distributed such
instruments at fair market value to the directors of the company as a part of their directors’ remuneration. At March
31, 1998, 41 warrants were outstanding and will expire on August 31, 1999.
On August 16, 1996, the company issued ¥2 billion ($15,152 thousand) of 0.1% bonds, with detachable 1,000
warrants. One warrant, which became exercisable from October 1, 1996, entitles the holder to subscribe ¥2 million
($15 thousand) for shares of common stock of the company at ¥7,022 ($53) per share (subject to adjustment in
certain circumstances). Upon issuance of the bonds, the company bought all of these warrants and distributed such
instruments at fair market value to the directors and selected employees of the company as a part of their remunera-
tion or salary. At March 31, 1998, 262 warrants were outstanding and will expire on August 15, 2000.
On October 13, 1997, the company issued ¥3.5 billion ($26,515 thousand) of 0.1% bonds, with detachable 1,750
warrants. One warrant, which will be exercisable from November 2, 1998, entitles the holder to subscribe ¥2 million
($15 thousand) for shares of common stock of the company at ¥11,788 ($89) per share (subject to adjustment in
certain circumstances). Upon issuance of the bonds, the company bought all of these warrants and distributed such
instruments at fair market value to the directors and selected employees of the company as a part of their remunera-
tion or salary. At March 31, 1998, all warrants were outstanding and will expire on October 12, 2001.