TOKYO Oct 12 Sumitomo Mitsui Banking Corp. and
27 other financial institutions have agreed to roll over a
roughly 77 billion yen ($783 million) syndicated loan for Tokyo
Electric Power Co. due to mature at the end of the
month, the Nikkei business daily reported on Saturday.
Tepco has lost $27 billion since the 2011 disaster at its
Fukushima Daiichi nuclear plant, and faces massive liabilities
as it decommissions the facility, compensates tens of thousands
of residents forced to evacuate, and pays for decontamination of
an area nearly the size of Connecticut.
The SMBC-led group includes Sumitomo Mitsui Trust Bank,
Gunma Bank, Chiba Bank, and a number of
prefecture-based agricultural cooperatives.
Tepco's major banks are prepared to provide 500 billion yen
in financing in December - 200 billion yen in loan rollovers and
300 billion yen in new financing, a person involved in the talks
told Reuters last month. ($1 = 98.3050 Japanese