By Pavel Alpeyev, Takashi Amano – Sharp Corp.’s bonds climbed to a one-year high on prospects its rescue by Taiwan’s Foxconn Technology Group will go through even after talks stalled short of the final agreement.The Japanese electronic components company’s 1.141 percent notes maturing Sept. 16 rose to 95.87 yen per 100 yen, the highest level since January 2015, according to data compiled by Bloomberg. That’s a 23 percent gain from last year’s low. The cost to insure the notes against nonpayment fell to the lowest in more than a year last month.
Foxconn delayed completion as it learned of liabilities at Sharp, after outbidding Innovation Network Corp. of Japan. Two rating companies put Sharp on watch for an upgrade after the Taiwanese assembler of Apple Inc.’s iPhones and iPads offered about 600 billion yen ($5.3 billion) for a controlling stake, with some proceeds used to repay bonds.
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