...March 30, 2025 TOKYO (S&P Global Ratings) March 31, 2025--S&P Global Ratings today said it has assigned its '###+' issue credit rating to Japan-based Mitsubishi Corp.'s (A/Stable/A-1) proposed subordinated loans. The general trading and investment company plans to use the full amount of Ñ164 billion to be raised through the subordinated loans to partially refinance existing subordinated bonds issued in June 2015 of Ñ40 billion and existing subordinated loans borrowed in June 2020 of Ñ160 billion. It will refinance this debt prior to maturity on June 18, 2025. It plans to repay the remaining Ñ36 billion in debt without refinancing. As a result, the value of the company's subordinated instruments that we classify as having intermediate equity content will fall 7.4% to Ñ450 billion from Ñ486 billion. The amount to be prepaid without refinancing represents a cumulative 25% of the company's total subordinated debt from June 2022, when it made its first partial prepayment without refinancing....
