McDonald's gets $423.7M loan from Japanese banks

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.