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Toshiba to meet banks Tuesday, loan waiver expected: sources
Source : Yahoo!
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05/01/2017 23:53
Toshiba Corp plans to meet with creditor banks on Tuesday to explain how it is addressing a massive charge that the Japanese company says it must take on its U.S. nuclear business, three bankers briefed on the meeting said. Toshiba officials could not immediately be reached for comment. Syndicated loans could be endangered because credit-ratings downgrades put Toshiba in violation of loan covenants, the bankers said, adding that it was routine for them to grant a waiver in such a case to avoid a funding crisis.
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