News
Notice Regarding Commitment Line Agreement
Jun 30, 2020
TechnoPro Holdings, Inc hereby announces that it has entered into the following commitment line agreement, with intention of 1) extending the commitment period of the existing commitment line for working capital usage and 2) expanding the commitment amount.
1. Reasons for new commitment line agreement
In anticipation of the spread and prolonged pandemic of the new coronavirus (COVID-19), as well as the possibility of ensuing global recession, TechnoPro Holdings, Inc. has established a new commitment line to secure agile and stable funding sources and to further strengthen its financial base from the perspective of reinforcing backup line of credit to prepare for unforeseen contingencies.
2. Details of the commitment line agreement
(1) Use of Funds | Working capital |
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(2) Commitment Amount | 10 billion yen in total |
(3) Creditors | Sumitomo Mitsui Banking Corporation, MUFG Bank, Ltd., Sumitomo Mitsui Trust Bank, Limited, Shinsei Bank, Limited, The Tokyo Star Bank, Limited, Aozora Bank, Ltd. |
(4) Signing Date | June, 2020 |
(5) Type of Agreement | Individual bilateral agreement |
(6) Commitment Expiration Date | June 30, 2021 |
3. Future outlook
TechnoPro Holdings, Inc. does not expect this commitment line agreement to have a material impact on its consolidated financials.
Note: This document is provided for informational purpose only. If there are any discrepancies between this and the original, the original Japanese document prevails.