Monday, Jul 25, 2016
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Best Buy wants to raise $350M with bond sale

Best Buy Co. plans to raise $350 million with its first bond sale since 2011 as the world’s largest consumer-electronics retailer prepares to repay $500 million of notes due next week.

New five-year securities may yield about 5.125 percent, according to a person with knowledge of the transaction who asked not to be identified because terms aren’t set.

Proceeds may be used to refinance debt, fund working capital, or repurchase stock, Richfield, Minn.-based Best Buy said Thursday in a regulatory filing.

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