TKLF - Yoshitsu agrees on 8.15B Japanese yen revolving credit facility

• Retailer Yoshitsu ( NASDAQ: TKLF ) agreed on a 8.15B Japanese yen revolving credit facility with a syndicate of Japanese banks.
• The syndicate, which includes 17 bank participants, is led by MUFG Bank and Muzuho Bank.
• Each draw under the agreement will bear an interest equal to the then Tokyo Interbank Offered Rate, or TIBOR, plus 0.7% per annum.
• The obligations under the agreement will be secured by the company's accounts receivable, and are guaranteed by Mei Kanayama, the principal executive officer.
• The agreement will expire Sep. 29, 2023.
• Source: Press Release

For further details see: