Airline ANA to receive $3.8 billion from banks: Kyodo
Reuters
Published Oct 14, 2020 07:44AM ET
TOKYO (Reuters) - Japanese airline operator ANA Holdings Inc (T:9202) is set to receive 400 billion yen ($3.8 billion) in subordinated loans from multiple banks as the company grapples with a slump in air travel due the COVID-19 pandemic, Kyodo reported on Wednesday.
Financing will consist of 130 billion yen each from Sumitomo Mitsui (NYSE:SMFG) Financial Group Inc (T:8316) and the state-backed Development Bank of Japan, Kyodo said.
The airline operator will also receive 60 billion yen from Mizuho Financial Group (T:8411), 50 billion yen from Mitsubishi UFJ (NYSE:MUFG) Financial Group Inc (T:8306) and 30 billion yen from Sumitomo Mitsui Trust Bank (T:8309), Kyodo said.
An ANA spokeswoman said the company had not announced anything. SMFG, Mizuho and Mitsubishi UFJ declined to comment. The DBJ and SMTB could not immediately be reached for comment.
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Written By: Reuters
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