Citibank sets big credit line for Japan group

Article Abstract:

Citibank NA has assured Sumitomo Corp a $600 million syndicated line of credit, the largest such deal by a foreign bank in Japan. The credit will be available to Sumitomo if it has trouble raising short-term financing from Japanese banks. Instability in the Japanese banking sector has caused deposits with Citibank to rise to $10.3 billion in March 1998, up from $4.7 billion in March 1997, and corporate borrowers seem to be following. Besides Sumitomo Group, NEC Corp has also arranged for a credit line with Citibank.

Comment:

Assured a $600 million syndicated line of credit by Citibank and partners for an undisclosed fee

Commercial Banking, Japan, Diversified Companies, Receipt of funds, Use of Funds, Business Financing, Citibank N.A. (New York, New York), Sumitomo Corp.

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Microsoft to offer more local versions of Microsoft Network

Article Abstract:

Microsoft Corp. is planning to introduce local-language versions of Microsoft Network Internet service in 24 additional countries outside of the US. The company will introduce the versions before the end of 1998. The service expansion is part of Microsoft's attempt to turn its flagship online product around. Microsoft Network has not experienced any significant growth since the mid-1990s. Huge amounts of financial investment have been infused in the service.

Comment:

To introduce local-language versions of Microsoft Network Internet service in 24 additional countries outside of the US

On-Line Information Services, Videotex & Teletext, Services introduction, World, Microsoft Corp., Internet services

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Mexico's Tribasa wins concession for rail line

Article Abstract:

Grupo Tribasa SA has been awarded a 50-year concession to run the 925-mile Ferrocarrill del Sureste railway network in Mexico. The network belongs to the Mexican government and connects Mexico City, the capital, with ports along the Gulf of Mexico. Tribasa bid 2.89 billion pesos ($322 million) for the concession. The company, the second-ranked construction firm in Mexico, outbid Illinois Central Corp. and two Mexican mining firms for the concession.

Comment:

Grupo Tribasa SA awarded a 50-year concession to run the 925-mile Ferrocarrill del Sureste railway network in Mexico

Railroads, Rail Transportation, Services information, Mexico, Grupo Tribasa SA

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