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Star Asia Investment Secures 8.1 Billion Yen Refinancing Loans

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Star Asia Investment (TYO:3468) approved new loan agreements worth 8.1 billion yen to refinance borrowings, according to a filing on the Tokyo Stock Exchange on Friday.

Star Asia will borrow 3.25 billion yen from a syndicate arranged by Sumitomo Mitsui Banking Corporation and Mizuho Bank at a floating rate of three-month yen TIBOR plus 0.50%.

The company will also borrow 500 million yen from Aozora Bank at three-month yen TIBOR plus 0.55%.

In addition, Star Asia will borrow 4.35 billion yen from another syndicate arranged by Sumitomo Mitsui Banking Corporation and Mizuho Bank at three-month yen TIBOR plus 0.50%.

All loans are unsecured and unguaranteed, and have repayment due Feb. 28, 2031.

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