Toshiba to seek loan support

|About: Toshiba Corp. ADR (TOSYY)|By:, SA News Editor

Seeking loan support from creditor banks, Toshiba (OTCPK:TOSYY) will ask them today to accept as collateral shares in its soon-to-be-split-off memory chip unit and other businesses and not to call in their loans.

Sources say some smaller creditors have balked at the offer, as bigger lenders are seen receiving the most valuable chip unit shares as collateral.