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