World : Japanese Banks Aid in RJR Buyout
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TOKYO — Ten Japanese banks will lend a total of $5.1 billion to help finance U.S.-based Kohlberg Kravis Roberts & Co.’s buyout of RJR Nabisco Inc., a bank official said today.
The loan was believed to be the largest ever by Japanese banks for such a transaction. The official who provided the figure insisted on not being identified by name or bank, although his bank is one of the 10 involved in the deal. KKR will be using a total of $14 billion in bank loans to finance its record $24.53-billion buyout of RJR Nabisco. Mitsubishi Bank earlier confirmed that it had offered KKR a loan, but a bank official declined to specify the amount.
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