Company name: Sosei Group Corporation
Listing: Tokyo Stock Exchange
Security code: 4565
Representative: Shinichi Tamura Representative Executive Officer, CEO
Contact person: Hidetoshi Torami Executive Vice President, CFO Tel: +81-03-5210-3290
Sosei announces that at the meeting of the Board of Directors held today it was resolved that the execution of a syndicated loan agreement set forth below was approved.
1. Summary of the terms of the syndicated loan agreement
1) Contract date 28 September 2015
2) Loan amount JPY 10 billion
3) Interest rate TIBOR + 1.50%
4) Value date 30 September 2015
5) Maturity date 30 September 2020
6) Period of loan 5 years
7) Use of funds Refinancing of existing loan
8) Arranger/Agent Mizuho Bank
2. Purpose of the Agreement
The purpose of the loan is to refinance the current outstanding loan as announced on 20 February 2015 that was obtained to finance the acquisition of Heptares Therapeutics. The loan of JPY 10 billion will be used to refinance the balance of current outstanding JPY 20 billion loan, JPY 10 billion of which will be repaid from the proceeds from the recently completed public offering and its existing cash. Executing the loan agreement and obtaining a JPY 10 billion long-term loan against the JPY 20 billion loan will reduce Sosei’s cash flow burden and strengthen our mid- term financial foundation.
3. Impact on financial forecast
The impact of executing the syndicated loan agreement is immaterial to the current fiscal year’s financial forecast.