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27th September 2011
MUFG electronic management of syndicated Loans
The Mitsubishi UFJ Financial Group is moving to an electronic system for managing syndicated loans. The electronic record keeping is valuable for regulatory purposes and also makes it easier to sell the loans on to third parties. The service is operated by the Japan Electronic Monetary Claim Organization, a subsidiary of the bank. Jemco is recognised for the purpose by the Financial Service Agency.
The Mitsubishi UFJ Financial Group bank arranged 547 syndicated loans, totaling about ¥5.6tr (€54bn £47bn $73bn Y470bn) last year. A ¥20bn syndicated loan to Teijin Ltd later this month will be the first loan to be recorded on the new system.
