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Article: BUSINESS IN ASIA TODAY - JULY 1, 2008.

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AsiaPulse News
Article date:
July 1, 2008
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Business in Asia on July 1, 2008. A summary prepared by Asia Pulse (http://www.asiapulse.com), the real-time, Asia-based wire with exclusive news, market intelligence and business opportunities:

SMBC ARRANGES US$472.3 MLN SYNDICATED LOAN FOR IBM

TOKYO - Sumitomo Mitsui Financial Group Inc. (TSE:8316) unit Sumitomo Mitsui Banking Corp. has put together a 50 billion yen (US$472.3 million) syndicated loan for IBM Corp., The Nikkei learned Monday. This is the first time that the U.S. firm has tapped Japanese lenders for a syndicated loan. In the past, IBM has procured funds in Japan by issuing yen-denominated bonds, or samurai bonds.

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