Panasonic Corp. has completed the biggest bond sale to Japan's institutional investors since 2011 after the electronics maker forecast its best profit in seven years.
The ¥400 billion offering included 10-year notes with a yield of 0.934 percent, compared with the 0.57 percent average for Japanese debt maturing between seven and 10 years, and 2.99 percent for large global industrials, according to Bank of America Merrill Lynch Indexes.
The cost to insure Panasonic debt from default has slumped to 39 basis points, from as high as 506 in November 2012, but lower than the 89 for Sony Corp. and 701 for Sharp Corp.