Toyobo Co (JP:3101) has released an update.
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Toyobo Co., Ltd. has finalized a subordinated term loan agreement for 23.0 billion yen with a final repayment due in 2059, though early repayment options are available from 2029. The loan is subordinate to other debts in case of liquidation and has been rated BBB and BBB+ by two rating agencies, with 50% equity content recognized. This move follows Toyobo’s August 8 announcement regarding its financing strategy.
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