Sanyo seeks ¥200bn syndicate loan
In dire need of cash to sustain the global economic downturn
Sanyo Electric Co. plans to take its ever largest syndicated loan of ¥200bn (US$2.09bn, 1June 2009), partly to invest in a hybrid car facility and pay for bond redemption. The loan will be provided by a syndicate of banks which comprises of six domestic banks including units of Sumitomo Mitsui Financial Group and Mitsubishi UFJ Financial Group led by Sumitomo Mitsui Banking Corporation.
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