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Sharp creditors considering $2.9 billion more in loans: paper
August 23, 2012 / 12:00 AM / 5 years ago

Sharp creditors considering $2.9 billion more in loans: paper

TOKYO (Reuters) - Sharp Corp’s main creditors Mizuho Corporate Bank and Mitsubishi UFJ Financial Group are considering extending another 230 billion yen ($2.90 billion)in loans to the struggling TV maker, the Yomiuri newspaper reported on Thursday.

Sharp's logo is seen at an electronic shop in Tokyo October 29, 2009. REUTERS/Kim Kyung-Hoon

The loans would be on top of the 60 billion yen in stopgap financing they provided to Sharp in July to help the company meet its debt requirements, the paper said.

Mizuho, part of the Mizuho Financial Group, and Mitsubishi UFJ are set to lend about 130 billion yen at the end of August and another 100 billion yen next month, seeking collateral this time, unlike previous loans, the paper said.

Reporting by Chang-Ran Kim; Editing by Edmund Klamann

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