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Economy

Banks to keep Aiful's financial lifeline in place

Aiful was ordered to shutter branches, including this one in Tokyo, temporarily in May 2006.

TOKYO -- A group of banks will continue to support rebuilding efforts by Japanese consumer lender Aiful amid the prospect of its core operations recovering.

     The company will refinance the bulk of its 160 billion yen ($1.55 billion) in debt via loan refinancing, bond issuance and factoring. For roughly 50 billion yen not covered by these steps, it will ask to delay repayments by around five years.

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