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MUFG Americas Holdings enters into credit agreement with parent

MUFG Americas Holdings Corp. entered into a $3.5 billion credit agreement with Mitsubishi UFJ Financial Group Inc., its parent company.

The loan has a yearly interest rate of three-month LIBOR plus 0.85%, payable quarterly, and matures Sept. 30, 2020.

Proceeds of the loan have funded loans to MUFG Americas' units. Along with the funding of the loan March 31, MUFG Union Bank NA prepaid three loans from Mitsubishi totaling $3.5 billion.