Financing Using Subsidiary (SoftBank Corp., Securities Code: 9434) Shares
SoftBank Group Corp. (“SBG”) announced that it has decided to enter into a margin loan financing (“Margin Loan”) in an amount up to JPY 500 billion pursuant to the below terms. A portion of SoftBank Corp. (“SoftBank”) shares held through SoftBank Group Japan Corporation (“SBGJ”), a wholly owned subsidiary of SBG (which currently holds 3,182,919,470 SoftBank shares) will be pledged as collateral for the Margin Loan. A stock lending agreement has been entered into between the borrower of the Margin Loan, Hinode 1 GK, a wholly owned subsidiary of SBG, and SBGJ for SoftBank shares which will be pledged as collateral for the Margin Loan.
As Hinode 1 GK has filed an application to treat SBGJ as a special shareholder, the share ownership and voting rights of SoftBank shares pledged as collateral for the Margin Loan will, in essence, continue to belong to SBGJ. The Margin Loan will be non-recourse to SBG.
Overview of the Margin Loan
|Borrower||Hinode 1 GK (a wholly owned subsidiary of SBG)|
|Total facility amount||Up to JPY 500 billion|
|Lender||16 domestic and overseas financial institutions|
|Expected utilization date||February 25, 2020|
|Tenor||2 years + 1 year extension option|
|Collateral shares of SoftBank||Up to 953,000,000 shares|
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