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Toshiba paid down debt to open memory chip unit options

Published 04/30/2018, 02:12 PM
© Reuters.  Toshiba paid down debt to open memory chip unit options
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  • Toshiba (OTCPK:TOSBF, OTCPK:TOSYY) accelerated paying down its debt to diminish the influence of lenders wanting a speedy sale of the chip unit to the Bain-led consortium.
  • Toshiba repaid over 40% of owed debt to banks in one quarter. The company owed 900B yen ($8.23B) at the end of last year to six lenders. The figure has now shrunk to around 500B yen.
  • Nikkei Asian Review notes that the move has fueled speculation that Toshiba could consider a different route to the sale.
  • The chip unit sale is stuck in an antitrust review in China and might not complete by the due date of May 28. Toshiba’s Plan B? A Toshiba Memory IPO instead of the sale.
  • Previously: Toshiba still aims for memory chip unit sale (April 23)
  • Now read: The .7B Purchase Of Sky Betting Signals Increased Dominance Of The Stars Group In Online Betting


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