Toshiba Memory Holdings Corporation’s $8.3 Billion Financing

White & Case LLP has advised Sumitomo Mitsui Banking Corporation, MUFG Bank, Ltd. and Mizuho Bank, Ltd., as mandated lead arrangers, on JPY900 billion in new senior loans and an additional commitment line of JPY100 billion for Toshiba Memory Holdings Corporation.

The new financing was used to refinance total JPY600 billion loans from Sumitomo Mitsui Banking Corporation, MUFG Bank, Ltd. and Mizuho Bank, Ltd for the June 2018 acquisition of Toshiba Memory Corporation by K.K. Pangea, a special-purpose company formed by a consortium led by Bain Capital Private Equity, LP. and for the early redemption of existing non-convertible-bond-type preferred stock of Toshiba Memory Holdings Corporation.

The White & Case team in Tokyo which advised on the transaction was led by partner Zenya Onishi (Picture) with support from associates Yoshiko Kawanami and Tomoyuki Susukida.

Involved fees earner: Yoshiko Kawanami – White & Case; Eugene Man – White & Case; Zenya Onishi – White & Case; Tomoyuki Susukida – White & Case;

Law Firms: White & Case;

Clients: Mizuho Bank; MUFG Bank, Ltd.; Sumitomo Mitsui Banking Corporation;

Author: Michael Patrini