MUFG approves fresh loans to Sharp: source

TOKYO Thu Sep 27, 2012 3:03am EDT

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TOKYO (Reuters) - Sharp Corp's creditor Mitsubishi UFJ Financial Group agreed to a plan to extend the cash-strapped display maker a total 210 billion yen ($2.7 billion) of fresh financing, a source briefed on the matter said on Thursday.

Mizuho Financial Group, which approved the plan earlier, and MUFG will share the 210 billion yen loans, which come on top of 150 billion yen of loans extended to Sharp in August.

($1 = 77.7800 Japanese yen)

(Reporting by Taro Fuse; Editing by Chang-Ran Kim)