Financial Business Recap: Major Japanese Lenders Helping Panasonic & Softbank
The Japanese banks Sumitomo Mitsui (NYSE:SMFG) and Mitsubishi UFJ (NYSE:MTU), along with Resona, are making the electronics major Panasonic Corporation (NYSE:PC) $7.6 billion in loan commitments, permitting it to avoid having to raise the cash in the markets. The lenders are also said to be helping Softbank Corp. finance its $20.1 billion purchase of Sprint Nextel Corporation (NYSE:S).
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