(Adds more comments from analysts)
By Mariko Katsumura and Taiga Uranaka
TOKYO, Dec 5 (Reuters) - Japanese leasing and financial services firm Orix Corp said it has asked the nation's securities watchdog to investigate "false information" being spread by an investor, as its shares tumbled briefly to a 12-year low.
Orix, Japan's biggest leasing company and an active investor in the property market, also said it had secured a commitment line of 100 billion yen ($1.1 billion) from 30 financial institutions and stressed that its finances were sound.
It submitted its request to Japan's Securities and Exchange Surveillance Commission (SESC) on Friday.
"Orix has heard from three separate sources that an investor has been spreading false information," said Orix investor relations official Greg Melchior, declining to elaborate on the nature of the information being circulated.
The move comes about two weeks after Orix announced that it would issue 150 billion yen worth of convertible bonds, the most by a Japanese company in two years, to help it pay down short-term debt and raise funds for investments.
Orix shares earlier sank as low as 3,980 yen, their lowest since January 1997, before recovering to close up 0.5 percent at 4,500 yen, compared to a 0.1 percent fall in Tokyo's benchmark Nikkei average.
Shares of Orix have lost about half of their value since mid-November when media reports of the convertible bond issue surfaced, triggering worries among investors that their stakes would be diluted when the bonds are converted to shares.
Last month Orix cut its net profit forecast for the year to March by 40 percent to 105 billion yen as the tumble in global stock markets hit its investment portfolio and a weakening economy forced it to boost provisions against loans.
Investors have also been concerned about Orix's exposure to Japan's ailing property sector. Hundreds of midsize developers and builders have failed this year due to slumping demand for apartments and tighter credit conditions.
Orix recently invested about 10 billion yen into both struggling property developer Joint Corp and condominium builder Daikyo Inc.
Kabu.com Securities market analyst Tsutomu Yamada said there has recently been speculation in the market about Orix's financial health.
"Their exposure to the real estate market is huge, and market players were wondering how Orix was planning to improve its business given today's sluggish property market," he said.
"Check out their CDS (credit default swaps)...they're soaring. That suggests investors are doubtful about the company's financial condition," said Yamada.
Orix's 5-year CDS spreads were last traded at around 370 basis points in October and the latest bid is indicated at 1,200 basis points, according to Reuters data.
CDS is a financial product which bond investors purchase to protect themselves against defaults.
Orix said in a statement that there were no concerns over its "present liquidity and funding".
Shinko Securities' senior credit analyst Naoko Yamauchi also said there was little reason to worry about Orix's health.
"The company's latest disclosed documents show Orix faces no bond redemptions before the year-end, holds about 300 billion yen in cash as of end-September and has lots of commitment lines with banks," said Yamauchi.
"It's obvious to any clear thinker that the financial situation of the company is fine," Yamauchi said. (Additional reporting by Nathan Layne and Rika Otsuka; Editing by Edwina Gibbs)