Execution of Bridge Loan Agreement for ARM Acquisition
July 18, 2016
SoftBank Group Corp.
SoftBank Group Corp. (“SBG”) announces that on July 15, 2016 it entered into a loan agreement (the “Bridge Loan”) for a maximum amount of JPY 1.0 trillion to finance a portion of the consideration payable in the acquisition of ARM Holdings plc (“ARM”) as follows. SBG, as more fully described in “Recommended Acquisition of ARM by SoftBank” dated July 18, 2016, has reached an agreement with ARM on the terms of a recommended all cash acquisition of the entire issued and to be issued share capital of ARM by SBG, under which SBG will acquire 1,412 million shares of ARM with a total acquisition price amounting to approximately GBP 24.0 billion (approximately USD 31.0 billion or JPY 3.3 trillion) by means of a court-sanctioned scheme of arrangement.
1. Summary of Bridge Loan Agreement
|(1) Borrower||SoftBank Group Corp.|
|(2) Lender||Mizuho Bank, Ltd.|
|(3) Date of execution||July 15, 2016|
|(4) Maximum amount of borrowing||JPY 1.0 trillion|
|(5) Use of proceeds||Acquisition of ARM|
|(6) Maturity||July 13, 2018|
|(8) Guarantor||SoftBank Corp.|
2. Future outlook
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