Hitachi Plans To Raise $4.6B In Securities Offerings

Law360, New York (November 16, 2009, 3:57 PM EST) -- Japan's Hitachi Ltd. said Monday it planned to raise up to $4.6 billion in securities offerings to fund its capital expenditures, make investments and reduce its debt, as it faces an annual loss for the fourth consecutive year.

The technology and electronics company said it aimed to sell up to 100 billion yen ($1.1 billion) worth of five-year unsecured convertible bonds and that it will issue and offer up to 318 billion yen ($3.5 billion) worth of new shares. The company hopes that by issuing these...
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