Softbank gets $1.13 bln Citi loan

Internet investor Softbank has received a 124.1 billion yen ($1.13 billion) loan from Citibank to finance its broadband Internet services business.

Softbank Broadband Investments, which is 98 percent owned by Softbank America and 2 percent by Citibank, will repay its debts by August 2011 in the form of shares, the company said.

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