Japan lender Resona says to pay back debt to govt in 5 years

TOKYO Fri May 10, 2013 2:54am EDT

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TOKYO May 10 (Reuters) - Resona Holdings Inc, Japan's fourth-largest lender by assets, said on Friday that it plans to pay off 870 billion yen ($8.76 billion) of debt owed to the Japanese government in five years, ending more than a decade-old bailout.

The lender received the bailout money in the late 1990s after the bursting of Japan's asset bubble, and when it was effectively nationalised under the weight of bad debts in 2003. ($1 = 99.3050 Japanese yen) (Reporting by Taiga Uranaka; Editing by Shinichi Saoshiro)