(Adds detail)
Feb 7 (Reuters) - Top Japanese banks have agreed to
issue letters this week committing to a 1.4 trillion yen ($10.60
billion) loan to back a Japan Industrial Partners-led
consortium's takeover offer for Toshiba , Bloomberg News
reported on Tuesday.
Sumitomo Mitsui Financial Group Inc will commit to
lending 515 billion yen, Mizuho Financial Group Inc 460
billion yen and Sumitomo Mitsui Trust Holdings Inc 220
billion yen, Bloomberg said, citing unidentified sources.
Mitsubishi UFJ Financial Group and Aozora Bank Ltd are also participating, it said.
Mizuho, Mitsubishi UFJ, Aozora and Sumitomo Mitsui Trust
declined to comment when contacted by Reuters. Sumitomo Mitsui
Financial Group could not be reached immediately for comment.
The buyout led by private equity firm JIP would also include
1 trillion yen in equity to be provided by a number of Japanese
companies including financial services group Orix Corp ,
chipmaker Rohm Co Ltd and Japan Post Bank ,
sources have said.
Toshiba named the JIP-led group as its preferred bidder in
October. The private equity firm was then asked by Toshiba to
provide commitment letters from banks by Nov. 7, something it
was unable to secure by that date.
($1 = 131.7400 yen)
(Reporting by Shivani Tanna in Bengaluru, Satoshi Sugiyama and
Makiko Yamazaki in Tokyo; Editing by Muralikumar Anantharaman
and Mark Potter)
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