Kioxia’s banks to refinance $13.5 billion loan for Western Digital merger: Report

TOKYO: Kioxia Holdings’s lenders are planning to refinance 2 trillion yen ($13.5 billion) in loans to support its potential merger with Western Digital’s flash memory business, Bloomberg News reported on Wednesday.

Sumitomo Mitsui Financial Group, Mizuho Financial Group and Mitsubishi UFJ Financial Group intend to submit a commitment letter for the refinancing next month, Bloomberg reported citing unnamed sources.