TOKYO May 8 State-run Japan Bank for International Cooperation (JBIC) is considering providing subordinated dollar loans as part of Suntory Holdings Ltd's financing of its recent purchase of U.S. spirits company Beam Inc, people with direct knowledge of the matter said on Thursday.
JBIC would lend the company more than 200 billion yen ($1.97 billion) worth of dollar loans to Suntory as the drink maker lines up more than 800 billion yen in debt financing for Japan's third-biggest outbound deal ever, the sources said.
The privately held Japanese company is also arranging the sale of senior and subordinated loans to banks and insurers to ensure longer-term funding of its recently completed $13.6 billion purchase of the maker of Jim Beam and Maker's Mark bourbons, sources said earlier.
Spokeswomen for Suntory and JBIC declined to comment.
The fund-raising is to refinance the bulk of a $12.5 billion bridge loan, which was arranged and underwritten by Bank of Tokyo-Mitsubishi UFJ after Suntory announced the purchase in January. ($1 = 101.7150 Japanese Yen) (Reporting by Taiga Uranaka; Editing by William Mallard and Edmund Klamann)