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HomeloansKioxia's banks plan $14B loan for Western Digital merger

Kioxia’s banks plan $14B loan for Western Digital merger

[1/2] KIOXIA gadgets can be seen at COMPUTEX Taipei, one of the world’s largest computer and technology trade shows in Taipei, Taiwan, May 24, 2022. REUTERS/Ann/File photo Acquire Licensing Rights
TOKYO, Sept 20 (Reuters) – Sumitomo Mitsui Banking Corp and three other Japanese banks have started looking into extending up to 2 trillion yen ($13.5 billion) in loans to support a merger between Kioxia Holdings and Western Digital Corp (WDC.O), Bloomberg News reported on Wednesday.
Chip makers Kioxia and Western Digital are speeding up merger talks, Reuters reported in May.
Sumitomo Mitsui, Mizuho Bank and MUFG Bank tentatively plan to extend a combined 1.3 trillion yen, while Development Bank of Japan was offering 300 billion yen, Bloomberg said, citing unnamed sources.
On top of the 1.6 trillion yen in loans, the banks are also likely to commit to another 400 billion yen, Bloomberg said.
Reporting by Kiyoshi Takenaka; Editing by Jacqueline Wong
Our Standards: The Thomson Reuters Trust Principles.

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