Cerberus-backed Aozora unveils plan to repay bailout cash
Aozora Bank, the Japanese lender in which Cerberus Capital holds a large stake, has pledged to repay JPY227.6 billion ($2.9 billion) in bailout money received during Japan’s financial crisis. The sum will be repaid over a 10-year period ending before the planned 2022 deadline.
Aozora has come under pressure to release a repayment plan because most of the government's preferred shares in the bank are scheduled to convert into common shares in October, massively diluting shareholder...
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