Sanwa Bank and three of Daiei Inc.'s other creditor banks are considering a bailout package for the struggling supermarket chain, including debt forgiveness and a debt-for-equity swap, as one of "many options," a Sanwa Bank spokesman said Wednesday.
The banks are considering several measures to help Daiei, the spokesman said, in comments on a newspaper report that the four banks are thinking of a 300 billion yen to 400 billion yen bailout package.
The Mainichi Shimbun reported Wednesday morning that the package includes debt forgiveness and a scheme that would exchange Daiei's debts for Daiei shares.