JAPAN/USA: US 7-Eleven to borrow from Japanese affiliate
US convenience store operator 7-Eleven has said it has entered an agreement to borrow up to US$400m from its Japanese affiliate, which can acquire funds at lower rates. Under the agreement, 7-Eleven will issue notes to Seven-Eleven Japan, to be repaid in eight equal semi-annual instalments beginning in July 2006 and ending in January 2010.
US convenience store operator 7-Eleven has said it has entered an agreement to borrow up to US$400m from its Japanese affiliate, which can acquire funds at lower rates.
Under the agreement, 7-Eleven will issue notes to Seven-Eleven Japan, to be repaid in eight equal semi-annual instalments beginning in July 2006 and ending in January 2010.
7-Eleven plans to use the funds for general corporate purposes, reported Reuters.
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