Japanese mobile operator Softbank has agreed on the refinancing of the remainder of a Y1.45tr (US$18bn) facility with 17 banks completed in 2006 for the acquisition of mobile phone business Vodafone KK.
The Y550bn (US$6.8bn) loan matures in March 2015….
Japanese mobile operator Softbank has agreed on the refinancing of the remainder of a Y1.45tr (US$18bn) facility with 17 banks completed in 2006 for the acquisition of mobile phone business Vodafone KK.
The Y550bn (US$6.8bn) loan matures in March 2015. The banks in the syndicate include Mizuho Corporate Bank, Sumitomo Mitsui Banking Corporation, The Bank of Tokyo-Mitsubishi UFJ, Credit Agricole CIB, and Deutsche Bank. The names of the other banks involved in the syndication were not disclosed.
In a statement, Softbank said: “The interest of the syndicated loan is expected to be significantly reduced compared to SBM’s [Softank Mobile Corp.] previous borrowings, reflecting the improvement of the company’s credit.
“There is no change in the Softbank Group’s target of reducing its consolidated net interest-bearing debt as of the end of March 2009 by half over three years (as of the end of March 2012), and to zero over six years (as of the end of March 2015).”
