Citibank leads partners in loan facility for Sumitomo

Article Abstract:

Citicorps's Citibank reported it prepared a syndicated credit line worth $600 mil for Sumitomo Corp of Japan. The agreement, the biggest so far of its type by an international firm in Japan, is the latest manifestation of how a funding crunch in the country is providing international banks with fresh opportunities. According to Citibank, Sumitomo may use the credit line any time the company requires short term funding. The deal masks the rising concern that the woes plummeting the country's banking sector will block efforts by corporations to raise short-term funding from local banks.

Personal credit institutions, Nondepository Credit Intermediation, Lending Services, Banking industry, Contracts, Citibank N.A. (New York, New York)

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Japan's trading companies have vast Indonesia risk: concerns about second-tier businesses' ability to survive adds to cloudy view of vulnerability

Article Abstract:

Analysts are concerned of a possible failure of smaller Japanese firms in Indonesia in the event of any adverse economic mishap. Japanese trading companies in Indonesia have a total risk exposure greater than the $24 billion Indonesian firms owe their banks. The leading trading firms such as Mitsui, Marubeni Corp., and Itochu have about $1.5 to $4 billion each in equity. Any disasters or bankruptcies could also negatively affect the Japanese banking industry, which is the main source of funding of trading companies.

Analysis, Economic aspects, Risk (Economics), Indonesia, Nissho Iwai Corp.

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