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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