K Line seals $406m long-term loan with Japanese banks
The 35-year subordinated loan is part of K Line’s portfolio rebuilding strategy. The instrument is a capital-efficient way of raising funds while maintaining stability, but lenders are subordinate to senior debt holders in the event of default
The loan carries a middle level risk rating from Japan Credit Rating Agency and lenders include Mizuho Bank, Development Bank of Japan and Sumitomo Mitsui Trust Bank
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