Execution of Bridge Loan Agreement for ARM Acquisition
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
All or a part of the abovementioned loan is scheduled to be refinanced with long-term financings.
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