Sharp creditors considering RM8bil more in loans

TOUGH TIME: Sharp's Aquos TVs on display at an electronics store in Tokyo in this Aug 8, 2012 photo. Sharp, with debt of 1.25 trillion yen, is scrambling for money to refinance its short-term commercial paper and convertible bonds maturing in September next year. - Reuters

TOKYO: Sharp Corp’s main creditors Mizuho Corporate Bank and Mitsubishi UFJ Financial Group are considering extending about 200bil yen (RM7.95bil) in new loans to the struggling TV maker, Japanese media reported.

The embattled company, with debt of 1.25 trillion yen (about RM48bil), is scrambling for money to refinance as much as 360bil yen (RM14.3bil) of short-term commercial paper and a 200bil yen (RM7.95bil) convertible bonds maturing in September next year.