Financial Wire

Stanley Electric Executes Loan Agreement with Financial Covenants

-- Stanley Electric (TYO:6923) said it has executed a loan agreement with financial covenants and revised certain terms from its earlier disclosure, according to a Wednesday filing on the Tokyo Stock Exchange.

The agreement, signed with two city banks, involves a principal amount of 70 billion yen and is unsecured, with repayment due on April 20, 2027.

Under the covenants, the company is required to maintain consolidated net assets at no less than 449.2 billion yen or 75% of the previous fiscal year-end level, whichever is higher.

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