Regional Japanese Banks Pool Resources for Tsuneishi Shipbuilding

Meanwhile, there is increasing anecdotal evidence that Japanese banks are seriously banding together to finance the domestic maritime industry. Last December, a group of five regional Japanese banks led by Chugoku Bank and Hiroshima Bank granted Japanese shipbuilder Tsuneishi Holdings a syndicated credit facility of JPY 10 billion (USD 121 million). The three year credit line can be drawn at any time within the stipulated period and the shipbuilder will be making use of the funds for its operating needs. Ehime Bank, Momiji Bank and San-in Godo Bank were the other participating banks.

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