FINWIRES · TerminalLIVE
FINWIRES

Mazda Motor Mazda Secures 70 Billion Yen Subordinated Loan to Refinance Existing Debt

By

Mazda Motor (TYO:7261) has secured a 70 billion yen subordinated loan, with a July 21 execution date, from six lenders to refinance an existing subordinated loan of the same amount, according to a Tokyo bourse filing on Monday.

The new 60-year facility matures in July 2086, carries an expected 50% equity credit rating from Rating and Investment Information, according to a Tokyo bourse filing on Monday.

The existing loan will be repaid early on the same date, while the new agreement mandates replacement financing with comparable equity credit within 12 months-a requirement that may be waived after 2031 under certain financial conditions.

The refinancing aims to comply with replacement restrictions, diversify funding sources, and strengthen Mazda's financial position without diluting common stock.

Related Articles

Asia

MediaTek Unit Buys $29 Million Preferred Shares in Reed Semiconductor

MediaTek (TPE:2454) unit Digimoc acquired 3.22 million preferred shares in Reed Semiconductor for about $29 million, according to a Friday Taiwan Exchange filing.Shares gained about 2% in Monday's late morning trade.The shares were purchased at an average price of about $8.99 per share, giving Digimoc an approximately 4.1% stake in Reed Semiconductor.The company made the purchase as a financial investment, it said.

TPE:2454
Asia

Fitch Upgrades CICC, Unit to A- With Stable Outlook

Fitch Ratings upgraded China International Capital Corporation's (HKG:3908, SHA:601995) long-term issuer default rating to A- from BBB+, with a stable outlook.The agency also upgraded the same rating for its wholly owned subsidiary, China International Capital Corporation (International), to A- from BBB+.The ratings agency said the upgrade reflects CICC's strengthened strategic role in supporting China's capital market reforms and financial stability, underpinned by an extremely high probability of extraordinary support from the largest shareholder, Central Huijin Investment.Fitch also cited CICC's leading investment banking franchise, expanding international footprint, improving earnings, adequate capital position, and strong liquidity as key credit strengths.The stable outlook reflects Fitch's expectation that CICC will continue to benefit from strong shareholder support while maintaining its strategic importance to China's financial system.

HKG:3908SHA:601995
Asia

Kingsmen Creatives Subsidiary Faces Winding-Up Order

Kingsmen Creatives (SGX:5MZ) subsidiary, Kingsmen Projects, received a winding-up order from the High Court of Malaya, Malaysia, according to a Friday filing with the Singapore Exchange.This comes after F&C Steel Technology initiated a winding-up petition against the indirect subsidiary, related to a sum of 218,887 ringgit, along with interest and costs, for work done.

SGX:5MZ