Breaking the close links between Japanese banks and corporations, Citicorp has arranged a $547 million 364-day revolving loan for NEC Corp., Japan's biggest producer of microchips and personal computers.

In fact, Citicorp said it is the first syndicated revolving facility ever for a Japanese company. The bank declined to disclose terms.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.