Japan Chipmaker Kioxia Sells $2.2 Billion of Bonds in Debut Deal

Chipmaker Kioxia Holdings Corp. sold $2.2 billion of US junk bonds in its first corporate debt issuance, becoming the latest Japanese firm to storm overseas credit markets.

The sale involves $1.1 billion each of five- and eight-year notes after initially targeting $1.5 billion of combined issuance, according to a person familiar with the matter. The bonds will respectively yield 6.25% and 6.625%, an eighth-point less than earlier price talk, said the person, who asked not to be identified as they’re not authorized to speak publicly.