Streaksai Regulatory News (STK)

29 Jun 2007 10:08

Softbank Corp29 June 2007 June 29, 2007 Securitization of Mobile Handsets Installment Sales Receivables SOFTBANK MOBILE Corp. (Head office: Minato-ku, Tokyo; Representative: MasayoshiSon; hereinafter"SBM"), a consolidated subsidiary of SOFTBANK CORP. (hereinafterthe "Company"), started the installment sales of mobile handsets (New SuperBonus) from September, 2006, and we announced today that we procured 88.1billion yen in total by securitizing the receivables of these installment sales. Since a high rating of Aaa and A was obtained for this procurement it couldbe executed at an interest rate lower than that of the existing loans of SBM,which contributed to cost reduction. The procured amount of 88.1 billion yenwill be allocated to SBM capital expenditure etc., and the repayment of the loanprocured through the securitization of the mobile business (1,335 billion yen asof the end of March 2007) by SBM. Continuous funding through the securitizationof mobile handsets installment sales receivables is planned in the future bySBM. Overview of this procurement is as follows. 1. Overview Program for institutional Program for individual investors investors (1) Procurement date June 29, 2007 (2) Repayment method Monthly pass-through repayment (3) Purpose Capital expenditures etc. and repayment of existing SBM loan (4) Amount 65.1 billion yen 23.0 billion yen (5) Rating Aaa(Moodys) A(R&I) (6) Funding Market Domestic ABS market, domestic ABL Money trust for individual market investors (7) Arranger Citibank, N.A. Mizuho Trust & Banking Co., Ltd. Daiwa Securities SMBC Co., Ltd. Deutsche Securities Inc. Mizuho Corporate Bank, Ltd. Mizuho Securities Co., Ltd. Nikko Citigroup Limited Tokyo branch, The Royal Bank of Scotland Plc. Shinsei Securities Co., Ltd. (8) Trustee Bank Mizuho Trust & Banking Co., Ltd. Mizuho Trust & Banking Co., Ltd. ,QDImpact on financial results The impact of this procurement on the financial results of the Company isexpected to be very minor. This information is provided by RNS The company news service from the London Stock Exchange