- 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
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Yoshitsu agrees on 8.15B Japanese yen revolving credit facility