McDonald's gets $423.7M loan from Japanese banks
Posted February 18, 2009 10:00 pm
NEW YORK -- McDonald's Corp. said Thursday it secured a $431.2 million loan from three Japanese banks.
The nation's No. 1 hamburger chain said the 40 billion yen loan was issued by the Bank of Tokyo-Mitsubishi UFJ, Mizuho Corporate Bank and Sumitomo Mitsui Banking Corp.
The duration of the loan -- which was initiated at the end of January -- is 5.2 years, the company added.
McDonald's spokeswoman Heidi Barker said the loan is for "general corporate purposes."
The loan comes at a time when both U.S. and European lenders have become far more cautious about extending financing.
McDonald's shares slipped $1.10, or 2 percent, to close at $55.31.
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