March 21, 1995 |
The city has been offered a line of credit of up to $75 million by the Industrial Bank of Japan to help repay a $95-million loan due next month, city officials said Monday. Anaheim borrowed the money last March to invest in the county's investment pool, which collapsed late last year. In all, the city had a $169-million investment in the fund, representing about 20% of its $874-million investment portfolio.
CALIFORNIA | LOCAL
March 22, 1995 |
The City Council on Tuesday authorized acceptance of a $75-million line of credit from a Japanese bank to help pay back a $95-million loan that is due April 4. The council unanimously voted to accept an offer of credit from the Industrial Bank of Japan, which offered an estimated 30-day interest rate of 6.17%. The bank was the lowest bidder among the nine financial institutions that extended credit proposals to the city. The agreement can be terminated at any time by the city, officials said.
August 15, 1991 |
The Industrial Bank of Japan may be the key victim of a multibillion-dollar fraud involving a restaurateur and stock speculator who claims to get her financial tips from God. The IBJ admitted Wednesday that it loaned large sums of money to Nui Onoue, 61, who was arrested Tuesday on suspicion of using $2.48 billion worth of phony deposit certificates as collateral to borrow money. A credit officer from Toyo Shinkin Bank in Osaka who forged the certificates for Onoue was also arrested Tuesday.
August 20, 1999 |
In a move that promises to shake up Japan's entrenched financial system, three large Japanese banks confirmed early today that they have agreed on an alliance that would create the world's largest banking group. Analysts said the combination of two commercial banks--Dai-Ichi Kangyo Bank and Fuji Bank--plus the Industrial Bank of Japan, a long-term-credit bank, could pave the way for a host of other bank mergers and serve as a model for corporate consolidation.
October 27, 1987 |
Allegis Corp. said today that it agreed to sell its Westin Hotel & Resorts unit for $1.53 billion to the Robert Bass Group of Texas and Aoki Corp. of Japan, supported by the Industrial Bank of Japan. Allegis, the parent of United Airlines, said in June that it would break up the company and sell off non-airline pieces.