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Japan Banks Extend Deadline for Toshiba Bid’s Loan Decision

Top Japanese banks are extending the deadline to issue commitment letters for a loan that backs Japan Industrial Partners Inc.-led consortium’s takeover offer for Toshiba Corp., according to people familiar with the matter.

The lenders are now looking to make a decision on the loans by Feb. 3 as discussions on the loan conditions including financial covenants are still ongoing, said the people, who asked not to be identified as the information is private.