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Nissan seeks $4.6bn credit line to raise liquidity amid pandemic

Troubled carmaker looks to creditors, including Mizuho, for cash

Nissan, like other big automakers, is scrambling to raise cash as sales dry up due to the coronavirus pandemic.   © Reuters

TOKYO -- Nissan Motor is seeking a credit line worth 500 billion yen ($4.6 billion) from Japanese banks, led by Mizuho Bank. The move is aimed at staving off funding problems for the Japanese automaker as vehicle sales plunge amid the new coronavirus outbreak.

The Japanese automaker decided to make the request at a board meeting on Tuesday, sources told the Nikkei. Its creditor banks are expected to agree to the request.

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