Banks OK $21.1 billion loans to Softbank for Sprint deal: sources

RetailReuters

Four banks approved loans totalling 1.65 trillion yen ($21.1 billion) to Softbank Corp, three sources with direct knowledge of the matter told Reuters on Monday, bringing the company closer to clinching a $20 billion deal to take control of U.S. carrier Sprint Nextel Corp.

Mizuho Financial Group Inc, Sumitomo Mitsui Financial Group, Mitsubishi UFJ Financial Group and Deutsche Bank will provide the loans to Softbank, the sources said.

Continue Reading Below

The four banks submitted a commitment letter to Softbank promising the loans on Monday, they said.

(Reporting by Mari Saito; Editing by Michael Watson)