Toyota seeks US$9.2 billion credit line from Sumitomo Mitsui, MUFG Bank: Kyodo

Toyota seeks US$9.2 billion credit line from Sumitomo Mitsui, MUFG Bank: Kyodo

Toyota Motor Corp has sought a credit line totaling 1 trillion yen (US$9.23 billion) from Sumitomo Mitsui Banking Corp and MUFG Bank as fund-raising costs rise on the back of the coronavirus pandemic, Kyodo News reported on Friday.

A man walks past a Toyota logo at the Tokyo Motor Show
FILE PHOTO: A man walks past a Toyota logo at the Tokyo Motor Show, in Tokyo, Japan October 24, 2019. REUTERS/Edgar Su

TOKYO: Toyota Motor Corp has sought a credit line totaling 1 trillion yen (US$9.23 billion) from Sumitomo Mitsui Banking Corp and MUFG Bank as fund-raising costs rise on the back of the coronavirus pandemic, Kyodo News reported on Friday.

The three companies could not immediately be reached for comment.

(Reporting by Chang-Ran Kim; Editing by Shri Navaratnam)

Source: Reuters

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