Thursday, September 27, 2012

Banks stake $4.6 billion on Sharp bailout to recoup money

File photo shows shoppers on an escalator travelling past Sharp's advertisement board at an electronic shop in TokyoTOKYO (Reuters) - Japan's Sharp Corp confirmed it had won a $4.6 billion bailout led by Mizuho Financial Group and Mitsubishi UFJ Financial Group, a deal that ends Sharp's immediate debt crisis but fails to resolve doubts about its future. Sharp said it has signed syndicated loan agreements with Mizuho and Mitsubishi UFJ for a 180 billion yen ($2.32 billion) term loan and a loan facility of an equal amount. The two banks will invite other lenders to join a syndicate to spread the risk, with life insurer Resona Holdings likely to join, a banking source told Reuters on condition of anonymity. ...


Original Source

No comments:

Post a Comment