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Suntory set to complete $3 bln subordinated loan deals-source
July 30, 2014 / 10:31 AM / 3 years ago

Suntory set to complete $3 bln subordinated loan deals-source

TOKYO, July 30 (Reuters) - Japanese drinks maker Suntory Holdings Ltd is set to secure $2 billion in subordinated loans from the state-run Japan Bank for International Cooperation (JBIC) as part of financing its purchase of U.S. spirits company Beam Inc., a person familiar with the deal said.

The deal, which is expected to signed as early as Thursday, comes on top of $1 billion in subordinated loans from Japan’s top three banks and about 10 regional lenders, which was agreed on Wednesday.

Suntory said the 60-year subordinated loans arranged by Mitsubishi UFJ Financial Group, Mizuho Financial Group and Sumitomo Mitsui Financial Group consists of $500 million in dollars and another $500 million in yen.

The privately held beverage company has been tapping a range of lenders to ensure longer-term funding of its recently completed $13.6 billion purchase of the maker of Jim Beam and Maker’s Mark bourbons.

$1 = 102.21 Japanese yen Reporting by Taiga Uranaka; Editing by Matt Driskill

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