Group Firms: Toshiba and Rollover Loans

group firms: The request for rollover loans is the third by Toshiba since it emerged last December that its U.S. nuclear unit Westinghouse Electric Co. is experiencing huge losses, according to The Japan Times. Toshiba plans to provide new collateral, including shares of Toshiba Memory Corp., which will be created through the spinoff of its profitable chip business, and those of other group firms as well as real estate, sources close to the matter said. Toshiba held a meeting with the lenders on Wednesday at its headquarters after the beleaguered technology conglomerate missed a second deadline to report its third-quarter earnings Tuesday, deepening its financial woes. It asked the banks to reply within the month. Toshiba's three main lenders Sumitomo Mitsui Banking Corp., Mizuho Bank and Sumitomo Mitsui Trust Bank agreed to continue to support the company, the sources said. The creditors said earlier they will maintain the current balance of loans outstanding by the end of March. (news.financializer.com). As reported in the news.