MOL secures bank loan of US$354 million

JAPANESE Mitsui OSK Lines (MOL) has sealed a three-year loan of JPY30 billion (US$354 million) with a consortium of banks led by Sumitomo Mitsui Banking Corp.


The move follows the carrier's announcement to Japan's ministry of finance to issue bonds valued at $1.2 billion.


According to a Bloomberg report, MOL will pay 0.03 per cent more than the three-month London interbank offered rate for Japanese yen.
(Source:http://www.schednet.com)