Bain proposes IPO of Japan's Kioxia to clear way for $5.8 bln loan refinance, source says [Reuters]
Mitsubishi UFJ Financial Group, Inc. (MUFG)
Company Research
Source: Reuters
money-losing chipmaker to refinance a $5.8 billion loan coming due in June, according to a person familiar with the matter. Bain and Kioxia met with a group of banks including Sumitomo Mitsui (8316.T) New Tab , opens new tab , Mizuho (8411.T) New Tab , opens new tab and Mitsubishi UFJ (8306.T) New Tab , opens new tab on Monday after the lenders urged Kioxia to come up with a recapitalisation plan because it looks likely to run afoul of the terms of a 900 billion yen ($5.8 billion) syndicated loan, the person said. Formerly Toshiba Memory, Kioxia was acquired by a Bain-led group in a $18 billion carve-out in 2018. The maker of memory chips is expected to have posted a loss for the year that ended last month, according to the person. That would mark its second straight annual loss and push its net assets below the roughly 500 billion yen required under the terms of the loan, the person said. Under the plan presented to the banks, Kioxia expects to return to profit in the yea
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MUFG
Sec Filings
- 4/17/24 - Form 6-K
- 4/9/24 - Form 424B2
- 4/9/24 - Form FWP
- MUFG's page on the SEC website