Bloomberg News

Banks Offer Nuclear Damage Liability Fund Double Amount of Loan

May 22, 2012

Nuclear Damage Liability Facilitation Fund was offered more than double the amount sought for a syndicated loan from banks, according to a statement on the fund’s website today.

The banks offered 1.083 trillion yen, compared with 500 billion yen sought by the government-backed fund, it said in the release. The average interest rate was 0.157% for the one-year facility, which will be used to help bail out Tokyo Electric Power Co., it said.

To contact the reporter on this story: Emi Urabe in Tokyo at eurabe@bloomberg.net

To contact the editor responsible for this story: Pavel Alpeyev at palpeyev@bloomberg.net


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