WAKACHIKU CONSTRUCTION CO.,LTD. [1888.T]
TOKYO, Mar 27 (Pulse News Wire) – Wakachiku Construction CO.,LTD. (1888.T) decided to implement borrowing based on a commitment line agreement signed with ten financial institutions to efficiently secure operating funds.
Under the syndicated commitment line agreement totaling ¥13.00 billion, the company plans to repay existing borrowings of ¥8 billion and take out a new loan of ¥6 billion. The borrowing will be interest-free until April 07, 2026 and will be unsecured.
Financial covenants require maintaining net assets at least at 75% of either the fiscal year ending March 2025 or the immediately preceding fiscal year-end balance sheet figures, and avoiding consecutive losses in ordinary profit for two consecutive fiscal years. This transaction is expected to have a minor impact on the company's performance.
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