Ajinomoto Co. has raised JPY35bn (US$327m) through the sale of 15bn six-year bonds priced to yield 1.371% and 20bn 12-year bonds priced to yield 1.896%.


According to a statement, Japan’s largest food group will use the proceeds from the 12-year bond sale to refinance a bond that matures later this month, while the proceeds of the six-year bond sale will be used to retire outstanding commercial paper.


Ajinomoto registered with the Ministry of Finance in January to sell as much as JPY70bn of corporate bonds by early 2010.


This is the group’s first corporate bond sale since May 2003, when it sold JPY50bn of bonds.

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