MUFG Union Bank enters into $1 billion term loan at Libor plus 85 bps

By Tali Rackner

Norfolk, Va., Aug. 28 – MUFG Union Bank, NA entered into a credit agreement on Aug. 25 with the Bank of Tokyo-Mitsubishi UFJ, Ltd. under which it borrowed $1 billion from Bank of Tokyo-Mitsubishi UFJ, according to an 8-K filing with the Securities and Exchange Commission.

The loan matures on Jan. 2, 2018.

Interest is equal to one-month Libor plus 85 basis points, payable monthly.

MUFG Union Bank may prepay the loan prior to the maturity date in whole or in part and in an amount of not less than $500,000 on or after Oct. 1.

MUFG Union Bank is a subsidiary of New York-based financial services company MUFG Americas Holdings Corp. Bank of Tokyo-Mitsubishi UFJ is the parent company of MUFG Americas Holdings.

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