SoftBank to get government-backed bank loans

Shop around on borrowed money!! Sounds like most of us, but when we can't pay the bills we won't take down thousands of employees with us!

Some industry experts have cast doubt on the wisdom of the Sprint deal, which piles further debt on already heavily indebted SoftBank, while ratings agency Moody’s downgraded the firm to junk status citing worries over its financial position.

so, this is how Abenomics Massive Liquidity is used.

2 trillion yen? Mitsubishi Son either has big dreams and ambitions or, as my late grandmother would say, "more money than sense".

Typo.

"gov't backed"? Who guarantees these loans?

SoftBank will use the money mainly for refinancing, the influential daily said.

Bank charges high interest for high risk loans.

Government bank charges lower interest for same high risk loans. Softbank is government supported company and tax payers will end up paying for their mistakes.

Another "sarakin". No thank you

Softbank had a good run while it lasted... Once the iPhone is out on Docomo, it's game over. No one in their right mind would choose such an awful, unstable network.

(NB - I've been on all three carriers)

Does that mean the Japanese government is giving them money to pay off their debt? What happens when they can't pay off the next debt?

Business Sep. 13, 2013 - 06:14AM JST ( 8 )

The Nikkei said the expected loans from will be part of a whopping 2 trillion yen syndicated loan that SoftBank is planning to announce later this month.

Muzuho Bank and Sumitomo Mitsui Banking Corp, among other major international banks, are also expected to participate in the loan, the Nikkei said.

Let us see. http://www.softbank.co.jp/en/news/press/2013/20130912_01/

Refinancing of Acquisition Finance of Sprint

September 12, 2013, SoftBank Corp

SoftBank formally announced the 2 trillion yen loan yesterday.

SauloJpnSep. 13, 2013 - 07:40AM JST

Shop around on borrowed money!!

That is called leverage.

So this is why the government needs to increase our consumption tax by 5%. A perfect example of class warfare. When will the people of this nation wake up and understand that money supply inflation, flat taxes and a less progressive (than in the past) national tax policy are impoverishing them?

warispeaceSep. 13, 2013 - 03:02PM JST

So this is why the government needs to increase our consumption tax by 5%.

I think the opposite is the case. The government affiliated banks will make a huge profit by taking part in the syndicated loan. There is no reason that their terms are any worse than other participants'.

Yes, Japan needs to wake up. The endless wars, lack of decent jobs, and political gridlock need to end. Oh wait, that's the US and Europe.

"The endless wars, lack of decent jobs, and political gridlock need to end."

What does that have to do with Softbank getting loans from the JBIC?

"gov't backed"? Who guarantees these loans?

You do, and all the other long suffering tax payers of Japan, whose yen bank deposits earn next to nothing, and whose government conjures hundreds of billions of yen to bankroll the expansionist dreams of a private concern like Softbank.

SoftBank to get government-backed bank loans title should read, "softbank gets taxpayer backed bailout should there expansion gamble fail"

Softbank is over reaching, paid too much for the US based carrier. And it is neglecting it's home market which is still plagued by crap coverage.

No one in their right mind would choose such an awful, unstable network.

Sighclops, How long ago were you using Softbank? Are you still using it?

I switched from docomo to Softbank just over 4 years ago. The gap was huge! Tokyo was not so bad, but once you were in rural Nagano or, well just about anywhere outside of a major city, you had nothing. And even within the city there were plenty of black holes.

Since that time, it has improved exponentially. There are still a few times and a few mountain passes in Tohoku where a friend on docomo or au will have network, but not me, but it's very rare. And sometimes, I have reception, where others don't.