Financial Covenants in Syndicated Term Loans
First written in FY2023-Q2. 5 of 6 entries say "Restated". Latest entry: FY2026-H1.
- FY2026-H1RestatedAnnual report
「To secure flexible and stable working capital financing, the Company has entered into a syndicated term loan agreement with a total of 9 banks, led by MUFG Bank, Ltd. (term: 7 years from 30 September 2022; outstanding borrowing: ¥3,500 million).」
The Company continues to disclose a 7-year syndicated term loan agreement with 9 banks and ¥3,500 million in outstanding borrowings, together with financial covenants. - FY2025-H1RestatedAnnual report
「To secure flexible and stable working capital financing, the Company has entered into a syndicated term loan agreement with a total of 9 banks, led by MUFG Bank, Ltd. (term: 7 years from 30 September 2022; outstanding borrowing: ¥3,500 million).」
The Company continues to disclose a 7-year syndicated term loan agreement with 9 banks and ¥3,500 million in outstanding borrowings, together with financial covenants. - FY2024-Q2RestatedAnnual report
「To secure flexible and stable working capital financing, the Company has entered into a syndicated term loan agreement with a total of 9 banks, led by MUFG Bank, Ltd. (term: 7 years from 30 September 2022; outstanding borrowing: ¥3,500 million).」
The Company continues to disclose a 7-year syndicated term loan agreement with 9 banks and ¥3,500 million in outstanding borrowings, together with financial covenants. - FY2024-Q1RestatedAnnual report
「To secure flexible and stable working capital financing, the Company has entered into a syndicated term loan agreement with a total of 9 banks, led by MUFG Bank, Ltd. (term: 7 years from 30 September 2022; outstanding borrowing: ¥3,500 million). The syndicated term loan agreement contains the following financial covenants. If the Company breaches any one of these covenants, it will lose the benefit of the time allowed for repayment and become obligated to repay the relevant borrowings. ① The amount of net assets in the consolidated balance sheet as of the end of each consolidated fiscal year must be maintained at not less than 75% of whichever is greater, the amount at the end of the immediately preceding fiscal year or the amount at the end of the fiscal year ended March 2022. ② The Company must not report a loss for 2 consecutive fiscal years in ordinary profit or loss in the consolidated income statement.」
The Company continues to disclose a 7-year term loan agreement with 9 banks and ¥3,500 million in outstanding borrowings, together with financial covenants relating to the maintenance of net assets and ordinary losses. - FY2023-Q3RestatedAnnual report
「To secure flexible and stable working capital financing, the Company has entered into a syndicated term loan agreement with a total of 9 banks, led by MUFG Bank, Ltd. (term: 7 years from 30 September 2022; outstanding borrowing: ¥3,500 million). The syndicated term loan agreement contains the following financial covenants. If the Company breaches any one of these covenants, it will lose the benefit of the time allowed for repayment and become obligated to repay the relevant borrowings.」
The Company continues to disclose a 7-year syndicated term loan agreement with 9 banks and ¥3,500 million in outstanding borrowings, together with financial covenants relating to the maintenance of net assets and ordinary losses. - FY2023-Q2First statedAnnual report
「To secure flexible and stable working capital financing, the Company has entered into a syndicated term loan agreement with a total of 9 banks, led by MUFG Bank, Ltd. (term: 7 years from 30 September 2022; outstanding borrowing: ¥3,500 million). The syndicated term loan agreement contains the following financial covenants. If the Company breaches any one of these covenants, it will lose the benefit of the time allowed for repayment and become obligated to repay the relevant borrowings. ① The amount of net assets in the consolidated balance sheet as of the end of each consolidated fiscal year must be maintained at not less than 75% of whichever is greater, the amount at the end of the immediately preceding fiscal year or the amount at the end of the fiscal year ended March 2022. ② The Company must not report a loss for 2 consecutive fiscal years in ordinary profit or loss in the consolidated income statement.」
The Company has entered into a 7-year term loan agreement with 9 banks, with ¥3,500 million outstanding, to secure stable working capital financing. The financial covenants require it to maintain net assets at no less than 75% of the reference amount and not report an ordinary loss for 2 consecutive fiscal years.