May 11 2020

Mazda Seeks $ 2.8 Billion Loan to Survive Coronavirus Crisis

 

Mazda is seeking 300 billion yen ($ 2.8 billion) in loans from the three "mega banks" and other Japanese lenders to help it overcome the coronavirus pandemic, the Reuters news agency reported. Mazda, which suspended or slowed production in line with the rest of the auto industry during the COVID-19 blockades, is said to already have about $ 6 billion in interest-bearing debt, far exceeding its reserves. according to Japan's flagship financial newspaper. The Nikkei.