2014 Volume 30 Pages 49-57
In recent years, mezzanine finance deals of the listed company have appeared in Japan. The purpose of this paper is to consider the role of corporate mezzanine finance deals in the case of West Holdings Corporation. This paper is organized as follows. The first and second section explains background of mezzanine finance in the case of West Holdings Corporation. The third section analyzed the transaction scheme of mezzanine finance deals. The fourth section analyzed operating improvement and financial condition after mezzanine finance deals. The fifth and sixth section explains redemption of preference shares. Finally, the role of mezzanine finance and some future view are drawn. The case of West Holdings Corporation represents steady EBITDA growth. Since the redemption of preference shares was in progress smoothly, this example will be positioned success example.
