Tokyo Electric Power Co. is in talks with banks for ¥280 billion in new loans next June, two sources with knowledge of the matter said.
Tepco is also scheduled next month to repay ¥150 billion in emergency borrowings related to the disaster at the Fukushima No. 1 nuclear plant from Sumitomo Mitsui Banking Corp., Mizuho Bank Ltd. and Bank of Tokyo-Mitsubishi UFJ Ltd., according to the sources, who asked not to be identified because the information is private.
The utility plans to raise about ¥300 billion in loans in fiscal 2015 and about ¥1 trillion in bonds and loans in fiscal 2016, Hiroshi Itagaki, a Tokyo-based Tepco spokesman, said. He declined to comment on the timing of borrowings and details of repayment plans.