Hefty guarantee: Nissan has secured loans to weather the Covid-19 pandemic. — AP
TOKYO: The Japanese government has guaranteed most of a loan to Nissan Motor Co from the Development Bank of Japan (DBJ), a source said, taking its guarantee to more than 40% of 713 billion yen (US$6.7bil) in finance for Japan’s No.2 automaker.
The hefty government guarantee suggests financial firms are cautious about helping to fund the automaker as it seeks to return to profitability and stop bleeding cash.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
