Toshiba to offer equity, real estate as collateral
TOKYO: Toshiba Corp is offering stock holdings and real estate as collateral to lenders as it seeks additional financial support amid multi-billion losses in its United States nuclear business, according to people familiar with the matter.
The company met with banks on Wednesday and made the offer as it requested loan extensions through the end of next month, said the people.
Toshiba’s three main banks said they plan to continue their financial support.
The Japanese icon has been grappling with construction de- lays and cost overruns on nuclear projects in its Westinghouse business.
Toshiba has estimated it would need to take a writedown of 712.5 billion yen (RM27.5 billion), though it hasn’t been able to get auditors to sign off on the final figures. Bloomberg