Japan's Mizuho Corporate Bank and the Bank of Tokyo-Mitsubishi UFJ, are considering a 150 billion yen ( about 1.51 billion U.S. dollars) additional credit line to help electronics manufacturer Sharp Corporation meet an upcoming bond redemption, local media reported on Wednesday.

The two major banks had earlier planned on a 100 billion yen additional credit line but revise the amount to 150 billion yen to ensure that Sharp can smoothly meet redemption requests for about 200 billion yen in convertible bonds maturing in September, according to the reports, including one by Nippon Hoso Kyokai (NHK) , Japan's public broadcaster. The two main lenders are expected to announce the plan within days.

The two main banks, which have backed a revival package for the Osaka-based display maker, offered last autumn a total of about 360 billion yen in loans, and the reports added that the new lending facility will bring the total credit extended to Sharp to around 800 billion yen.