| September 5, 2003 |
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| ISEKI & CO., LTD. |
| Notice concerning "Syndicate Loan Financing" |
On August 26, 2003, Iseki & Co., Ltd. concluded a contract for a syndicate
loan, to the order of  7.0 billion, with 36 financial institutions, headed by
Mizuho Corporate Bank, Ltd. and also arranged by The Norinchukin Bank, The
Chuo
Mitsui Trust and Banking Company, Limited and The Iyo Bank, Ltd. |
Historically, we have raised funds for activities via debentures and borrowings
from financial institutions. However on this occasion, as a way of diversifying
our procurement of funds, we have taken up a syndicate loan, which is a means
of market-oriented indirect financing.
From here on, we aim to enjoy the merits in addition to the aforementioned diversification
of financing, such as the low-interest procurement of funds linked to market interest
rates and the stabilization of our financial structure that will come with an
improved ratio of long-term financing. |
| As a key objective of our Three-year Business Plan, we have specified the
reduction of interest-bearing liabilities. The loan arrangements announced here
in no way run counter to this objective. They are a means of promoting the very
financial restructuring that is being proposed. |
| These arrangements have only been possible due to the recognition that has
been received from the financial institutions for the stable growth potential
of this project. We will continue our efforts to achieve our potential with the
help of wide-ranging cooperation. |
| Contract amount |
7.0 billion |
| Term of loan |
Three years from August 29, 2003 |
| Interest rate level |
Variable interest rate (market interest rate set as base) |
| Participating financial institutions |
|
36 (including a total of four financial institutions such as lead and managing
banks) |
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