NSG Group - Continuation of Debt Refinancing Program
NSG Group announces that new bank facilities totaling approximately JPY 35bn were signed with a number of institutions on 29 January 2010.
The weighted average maturity of the facilities announced today is four years, with a final maturity of five years. The total proceeds will be used to prepay existing borrowings maturing in 2011. Mandated Lead Arrangers to the facility were Sumitomo Mitsui Banking Corporation, Bank of America Merrill Lynch, BNP Paribas, Citibank and Intesa Sanpaolo SpA.
These new facilities represent the latest step in the Group's continuing debt management and refinancing program. This aims to replace the Group's maturing debt with new debt and increase the maturity profile of the Group's borrowings. The refinancing of all of the Group's maturities in financial year 2010 has been completed and refinancing of the remaining maturities in financial year 2011 is currently in progress.