Loan for Refrigerated Trailer Leasing Business of Marubeni Corporation’s US Joint Venture
Supporting Overseas Business Expansion of Japanese Company
- Region: North America
- Manufacturing and Services
- Overseas Investment Loans
The Japan Bank for International Cooperation (JBIC; Governor: MAEDA Tadashi) signed today a loan agreement amounting to up to USD110 million (JBIC portion) with PLM Fleet, LLC (PLM*1
), a US joint venture of Marubeni Corporation (Marubeni). The loan is co-financed with Mizuho Bank, Ltd. and Sumitomo Mitsui Banking Corporation, bringing the total co-financing amount to USD217 million.
The loan is intended to finance the funds necessary for PLM to conduct refrigerated trailer leasing business in the United States.
The refrigerated trailer leasing market in the United States is expected to continue to grow on the back of multiple factors including the country’s population growth, economic growth, and efforts to reduce food loss. The loan will support overseas expansion of the Japanese company’s refrigerated trailer leasing business in the United States, thereby contributing toward maintaining and improving the international competitiveness of Japanese industry.
As Japan’s policy-based financial institution, JBIC will continue to provide financial support to assist Japanese companies in the overseas expansion of their businesses by drawing on its various financial facilities and schemes for structuring projects and by performing its risk-assuming function.
PLM is a US company in which Marubeni and Mizuho Leasing Company, Limited hold shares on a fifty-fifty basis.