Isuzu Concludes Agreement on 300 Billion-Yen Syndicated Loan

Tokyo Feb 21, 2005; Dale Hug writing for JCNN reported that Isuzu Motors has signed an agreement on a total of 300 billion yen ($2.85 bil) worth of syndicated loan with Mizuho Corporate Bank as an arranger.

Effective February 16, the loan consists of 240 billion ($2.29 bil) worth of the term loan arranged to refinance the existing long- and short-term borrowings, and 62 billion ($590.5 mil) worth of the commitment line planned to complement liquidity.

Isuzu also uses this loan to establish a strong financial base to successfully implement its mid-term business plan starting in April 2005.