ANA Holdings looking for $920 million syndicated loan

ANA Holdings, the parent of Japanese airline All Nippon Airways is looking into a roughly 100 billion yen ($920 million) syndicated loan from seven lenders as the carrier fortifies its balance sheet to cope with the drop-off in air travel demand. According to a report by the Asian Nikkei Review ANA typically refinances about 50 billion yen every year around June, will accelerate the schedule to April and double the amount to confront the steep revenue declines caused by flight cancellations amid the coronavirus pandemic. Additional financing also will be considered going forward. The lending syndicate includes Japan’s top three banking groups: Mitsubishi UFJ Financial