SUMIDA: 公司消息

Notice concerning Raising Funds by Perpetual Subordinated Loan

2020年 12月 25日

SUMIDA CORPORATION (“SUMIDA”) hereby announces today that the agreement to get a perpetual subordinate loan in the amount of five billion yen has been concluded with Sumitomo Mitsui Banking Corporation, Development Bank of Japan Inc and Mizuho Leasing Company, Limited.

1. Purposes of the subordinate loan

SUMIDA decided to raise funds thorough the subordinated loan from Sumitomo Mitsui Banking Corporation, Development Bank of Japan Inc and Mizuho Leasing Company, Limited to finance the midterm business plan Stage III (2018-2021) that had been announced in February 2018. In that plan SUMIDA aims to implement growth strategies as well as to maintain a healthy financial position. The funds obtained from this loan will be used for capital investments and repayments of the existing interest-bearing loans.

According to IFRS, this perpetual subordinated loan is classified as an equity instrument and the funds obtained from this loan will be put in equity in the consolidated balance sheet.

2. Overview of the subordinated loan

(1) Amount 5 billion yen
(2) Contract date December 22, 2020
(3) Execution date December 25, 2020
(4) Repayment date No repayment date specified
Provided, however, that on each interest payment date, optional repayment of all or part of the principal is possible
(5) Use of funds Capital investments and repayment of the existing loans
(6) Interest rate Variable interest rate base on 3-month Japanese yen TIBOR
(7) Clauses relating to interest payment Optional deferral of interest payment is possible
(8) Lender Sumitomo Mitsui Banking Corporation
Development Bank of Japan Inc
Mizuho Leasing Company, Limited

General Enquiries:
PR/IR Team
Tel: +81-3-6758-2470