Chip Memory Firm Kioxia’s Banks Prep $14 Billion Loan for Western Digital Merger

📆 20-9-2023 11:39:00
📰 BNNBloomberg

⏱ Reading Time:
26 sec. here
2 min. at publisher
📊 Quality Score:
News: 14%
Publisher: 50%

Nederland Nieuws Nieuws

Nederland Laatste Nieuws,Nederland Headlines

Kioxia Holdings Corp.’s lenders plan to submit a commitment letter in October for the refinancing of ¥2 trillion ($14 billion) in loans to help fund the merger with Western Digital Corp.’s flash memory business that’s still under discussion, according to people familiar with the matter.

The letter being prepared is from banks including Sumitomo Mitsui Financial Group Inc., Mizuho Financial Group Inc. and Mitsubishi UFJ Financial Group Inc., the people said, asking not to be identified because the matter is private. This would mark a step forward in the merger, which has faced months of delay.

A part of the loan will be used to pay special dividends to Kioxia’s existing shareholders, they added. Bain Capital currently owns about 56.24% of Kioxia, while Toshiba Corp. holds about 40.64%. The merged flash entity would trade on the Nasdaq initially but eventually seek a second listing in Tokyo.

One factor complicating the discussions is the planned buyout of Toshiba. A consortium led by investment fund Japan Industrial Partners Inc. began a tender offer last month that ends on Sept. 20.

Wij hebben dit nieuws samengevat zodat u het snel kunt lezen. Bent u geïnteresseerd in het nieuws, dan kunt u hier de volledige tekst lezen. Lees verder:

Schrijf commentaar

Nederland Laatste Nieuws, Nederland Headlines

Similar News:Je kunt ook nieuwsberichten lezen die vergelijkbaar zijn met deze die we uit andere nieuwsbronnen hebben verzameld.

China vows deeper trade, investment with Russia despite Western rebukeBy Ryan Woo BEIJING (Reuters) - China on Tuesday urged increased cross-border connectivity with Russia and deeper mutual trade and investment ...
Bron: SaltWire Network - 🏆 45. / 63 Lees verder »