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Mar 4, 2009

Panasonic Sets Terms and Conditions for its Domestic Unsecured Straight Bond Issues

Osaka, Japan, March 4, 2009 - Panasonic Corporation (Panasonic [NYSE symbol: PC]) announced that the company today determined terms and conditions for the issues of unsecured straight bonds in Japan in the aggregate principal amount of 400 billion yen. The basic terms for these domestic unsecured straight bond issues had been approved at Panasonic's board meeting of December 19, 2008.

Panasonic decided to issue the bonds in three series, with maturities of three (3), five (5) and ten (10) years, respectively.

The terms and conditions for each series - namely Panasonic's Sixth, Seventh and Eighth Series of Unsecured Straight Bonds - are set as follows:

Series name Sixth Series Seventh Series Eighth Series
Aggregate
principal amount
to be issued
100 billion yen 200 billion yen 100 billion yen
Denomination
of each bond
100 million yen (a single kind)
Coupon rate
(per annum)
1.140% 1.404% 2.050%
Issue price 100% of the principal amount
Interest payment dates March 20 and September 20 of each year
(First interest payment date will be September 20, 2009)
Maturity date
(early redemption
clause, if any)
March 20, 2012
(No early redemption)
March 20, 2014
(No early redemption)
March 20, 2019
(No early redemption)
Payment date March 10, 2009
Fiscal agent Sumitomo Mitsui Banking Corporation
(Notes)
Panasonic intends to use the proceeds from the bond issues to fund capital expenditures and purchases of investment securities (including acquisition of shares by M&A) and to raise working capital.
Panasonic set up a shelf registration for the issue of bonds with the maximum possible amount of 400 billion yen within a period of two years as from December 19, 2008.

(This press release does not constitute an offer of securities in the United States. The securities referred to above have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.)

Media Contacts:

Akira Kadota (Japan)
International PR
Tel: +81-3-3578-1237
Panasonic News Bureau (Japan)
Tel: +81-3-3542-6205
Jim Reilly (U.S.)
Tel: +1-201-392-6067
Anne Guennewig (Europe)
Tel: +49-611-235-457

Investor Relations Contacts:

Kazuo Sasaki (Japan)
Investor Relations
Tel: +81-6-6908-1121
Yoichi Nagata (U.S.)
Panasonic Finance (America), Inc.
Tel: +1-212-698-1362
Hiroko Carvell (Europe)
Panasonic Finance (Europe) plc
Tel: +44-20-7562-4400
*The content in the following news releases is accurate at the time of publication but may be subject to change without notice. Please note therefore that these documents may not always contain the most up-to-date information.

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