Sumitomo Pharma to Refinance Borrowings through Bridge Loan

MT Newswires Live04-08

Sumitomo Pharma (TYO:4506) said it will refinance existing borrowings through a bridge loan as part of efforts to restructure its debt, according to a Wednesday filing on the Tokyo Stock Exchange.

The company plans to use the new facility to repay borrowings previously guaranteed by Sumitomo Chemical (TYO:4005) and replace them with unsecured financing.

The bridge loan consists of a 20 billion yen term loan and a 130 billion yen commitment line, with funds allocated toward refinancing and working capital. The facility runs from April 24, 2026, to April 23, 2027, with repayment due in a lump sum at maturity. No collateral or guarantor is attached.

Sumitomo Pharma will use the proceeds to repay portions of its existing syndicated loan, which had an initial facility size of 140 billion yen for tranche A and 93 billion yen for tranche B. As of April 8, outstanding balances stood at 60 billion yen and 38.1 billion yen, respectively.

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