- Region: North America
- Manufacturing and Services
- Overseas Investment Loans
September 13, 2013
- The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Okuda) signed today, a loan agreement totaling up to 220 billion yen (JBIC portion) with SoftBank Corp. (SoftBank) to finance part of the funds required for acquiring shares of Sprint Corporation (Sprint) in the United States. This loan is cofinanced with Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation, The Bank of Tokyo-Mitsubishi UFJ, Ltd. and other financial institutions.
- SoftBank intends to capture an overseas growth opportunity through acquisition of a majority of shares in Sprint, the third largest mobile telecommunication company in the domestic U.S. market, by taking advantage of its knowhow associated with mobile communications cultivated in the Japanese domestic market.
- The loan is intended to support Softbank's overseas business expansion, as provision of necessary funds for overseas M&A by a Japanese company will back up their overseas business deployment and new business development, thereby contributing to maintaining and improving the international competitiveness of Japanese industries.
- As a public financial institution, JBIC will continue to support overseas M&A activities of Japanese companies in cooperation with private financial institutions.