ANNOUNCEMENT 13 Sep 2013
On 13 September 2013, the Japan Bank for International Cooperation (JBIC) signed an overseas investment loan agreement with SoftBank Corp.
NUMBER OF INTERVENTIONS
The Japan Bank for International Cooperation, press release of 13 September 2013, Loan for Acquiring Shares of Sprint Corporation in U.S.: http://www.jbic.go.jp/en/information/press/press-2013/0913-13049
JBIC information on overseas investment loans: http://www.jbic.go.jp/en/finance/investment
The overseas investment loan agreement between JBIC and the Japanese company SoftBank Corp. has a maximum value of 220 billion yen (USD 2.01 billion).
The loan finances the Japanese company's acquisition of a majority of shares in the American mobile telecommunication company Sprint Corporation.
In this context, the Bank stated: "The loan is intended to support Softbank's overseas business expansion, as provision of necessary funds for overseas M&A by a Japanese company will back up their overseas business deployment and new business development, thereby contributing to maintaining and improving the international competitiveness of Japanese industries."
Overseas investment loans
JBIC provides direct loans named overseas investment loans to Japanese companies, overseas affiliates or joint ventures where Japanese companies hold equity interests and governments or financial institutions partying with such overseas affiliates. Loans support projects in specific sectors or with a specific purpose of interest to Japan. Further information can be found on the Bank’s website under overseas investment loans.
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets and from foreign subsidiaries.