Japan banks to issue commitment letters for Toshiba bid loan, Bloomberg reports

Japanese banks intend to issue commitment letters at the end of the month to a loan that back Japan Industrial Partners, JIP, consortium’s takeover offer of Toshiba, Taro Fuse of Bloomberg reports, citing people familiar with the matter. Some of the banks include Mizuho Financial Group (MFG), Sumitomo Mitsui Sumitomo (SMFG), and Mitsui Trust (SUTNY). The banks have resumed discussions with the JIP group on the terms of a $10.6B loan, Bloomberg’s sources added. Discussions are ongoing and the JIP-led consortium is opposed to some of the banks’ requests, such as reserving senior positions in Toshiba’s management for their representatives. Reference Link