The loan is to refinance loans taken by Sprint and ARM for acquisitions.

On Thursday, Japan’s SoftBank Group Corp said it has secured a $23.3 billion (2.65 trillion yen) loan agreement to re-finance the acquisition loans for British chip designer ARM and U.S. telecommunications Sprint Corp.

The loans have a maturity date of Sept 30, 2024, said SoftBank.

($1 = 113.8400 yen)