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Japanese banks arranging loan for Nikkei.

Global Banking News-November 6, 2015--Japanese banks arranging loan for Nikkei

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Global Banking News - 06 November 2015

Japanese banks are arranging a syndicated loan to help an acquisition by Nikkei Inc, considered to be the biggest financial daily in Japan, according to Reuters.

The banks are to offer a loan of JPY120bn for Nikkei Inc's USD1.3bn acquisition of Britain-based Financial Times.

Nikkei Inc agreed to purchase the British newspaper for GBP844m.

Sumitomo Mitsui Banking Corp (8316:Tokyo) will provide a JPY120bn bridge loan to Nikkei Inc this month. Mizuho Bank (8411:Tokyo), Bank of Tokyo-Mitsubishi UFJ, Resona Bank (8308:Tokyo) and Sumitomo Mitsui Trust Bank (8309:Tokyo), are scheduled to provide JPY120bn in permanent loans in February next year.

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Publication:Global Banking News (GBN)
Geographic Code:9JAPA
Date:Nov 6, 2015
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