March 15, 2017 / 9:59 AM / 2 years ago

Toshiba offers memory unit shares as collateral for loans: sources

FILE PHOTO: The logo of Toshiba Corp is seen behind a traffic signal at its headquarters in Tokyo, Japan January 27, 2017. REUTERS/Toru Hanai/File Photo

TOKYO (Reuters) - Japan’s Toshiba Corp has offered shares of its memory chip unit as collateral to creditors to secure debt refinancing, sources briefed on the matter said on Wednesday.

Toshiba met its creditor banks earlier in the day after it missed the deadline for submitting audited third-quarter earnings for a second time on Tuesday.

At the meeting, Toshiba also offered to put up stakes of Toshiba Tec Corp and other group companies as well as real estate as collateral, said the sources, who declined to be identified as they were not authorized to speak on the matter.

Toshiba spokesman said the company is considering various options to secure funds but that there was nothing to announce right now.

Reporting by Taro Fuse and Taiga Uranaka; Additional reporting by Makiko Yamazaki; Editing by Edwina Gibbs

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