Sega Enterprises Ltd is raising the equivalent of about $950m with an issue of 100,000m yen of domestic convertible bonds, priced at par, with a maturity of six years and a coupon set at 0.6%; the conversion period starts in August and runs to September 2000. Proceeds will be used to finance its planned string of high-technology amusement parks – in addition to its Osaka park which opened in April, Sega plans to open two parks in 1994 and two more early next year, and hopes to build 50 amusement parks in Japan over the next four to five years. Lead manager is Nomura Securities Co Ltd.
