Ispace's (TYO: 9348) board approved a long-term loan agreement with Sumitomo Mitsui Banking for 10 billion yen to fund mission development and related working capital, according to a Thursday filing.
The unsecured loan carries a floating interest rate and is scheduled to be executed on May 22 and drawn down on May 23, with a term of 3 years and 8 months, the filing said. Repayment will be made in full at maturity.
The company said the financing will help strengthen its liquidity and financial stability, enabling faster management decisions and continued investment.
Financial covenants include maintaining positive net assets and cash holdings of at least 3 billion yen, the filing said.
Ispace does not expect a material impact on its earnings forecast for the fiscal year ending March 2026.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.