OSAKA – At the request of the financially beleaguered consumer electronics maker, Sharp Corp.’s smaller lenders, including Resona and regional banks, are expected to continue extending loans totaling some ¥68 billion due for repayment at the end of this month, sources said Thursday.
Sharp’s main creditors, Mizuho Corporate Bank and the Bank of Tokyo-Mitsubishi UFJ, set up a ¥150 billion credit line in late August, to help the Osaka-based company procure funds to redeem its commercial paper and other needs.
The lenders will likely consider extending additional loans of around ¥300 billion after studying a restructuring program Sharp is expected to draw up by the end of this month, the sources said.
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