TOKYO : Japan’s Bridgestone has more than halved the value of a planned bond offering to around 50 billion yen ($350.56 million), two sources with knowledge of the matter said.
The company has also decided to do away with the proposed 7-year term in the bond offer series that also included other tenors, the sources added.
Underwriters are still testing demand for the issuance, said the sources, who declined to be named as the information is not public.
Bridgestone declined to comment on the deal.
The sale by the tyre maker, which has an investment grade credit rating, is seen as a litmus test for market sentiment.
Across Asia, bond issuance has been muted in the past week since President Donald Trump’s tariffs sparked ructions in the U.S Treasuries market, making issuance more expensive across investment grade and high-yield bonds.
($1 = 142.6300 yen)
