INTLOOP Inc.
Notice of Conclusion of a Financial Agreement with Special Covenants
Entered into a financial agreement with special covenants with Mizuho Bank to allocate 2,170 million yen for the additional acquisition of DIX Holdings stock. The loan term is 7 years, with a final repayment date of July 31, 2033, and collateral is shares of the target company. The covenants require maintaining consolidated net assets at or above 75% of the previous year and avoiding two consecutive years of operating losses. Impact expected to be minor.
Key Figures
- Concluded amount of the monetary loan agreement: 2,170 百万円
- Borrowing period: 7 年
- Final repayment date: 2033 年 7 月 31 日
AI要約
Overview
INTLOOP resolved to enter into a monetary loan agreement with special covenants with Mizuho Bank. The loan amount is 2,170 million yen, intended for the additional acquisition of DIX Holdings stock and related costs for acquiring Under Works Co., Ltd. The repayment period is 7 years, with the final repayment date on July 31, 2033. The loan is secured by the target company’s shares.
Outlook and impact
The impact on our consolidated results from this loan is expected to be minor. A key financial covenant requires maintaining consolidated net assets at year-end at or above 75% YoY and avoiding two consecutive years of operating profit losses.
INTLOOP Corporation
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