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Stock impact report

Nidec Secures $3.9 Billion Credit Line, Easing Liquidity Fears [Yahoo! Finance]

Mitsubishi UFJ Financial Group, Inc. (MUFG) 
Company Research Source: Yahoo! Finance
(Bloomberg) -- Nidec Corp. secured a ¥600 billion ($3.9 billion) credit line from MUFG Bank Ltd. and SMBC, easing concerns about potential liquidity strains at the maker of precision motors amid an ongoing probe into accounting issues. The commitment line agreement comprises two bilateral contracts of ¥300 billion each, unsecured and unguaranteed, with a contract period valid for one year from Nov. 7. Nidec's stock rose as much as 5% early Wednesday. Most Read from Bloomberg Trump's 90,000-Square-Foot Ballroom Plan Puzzles the Experts Boston's South Station Gets a Towering Makeover Colorado Ski Haven Asks Voters If It Can Borrow More for Housing Can Anyone Save Gary, Indiana? In Vancouver, A Court Ruling on Indigenous Land Triggers Real Estate Angst Nidec's shares and bonds had come under pressure after the company found evidence in September that senior executives may have been involved in a number of accounting issues at subsidiaries. The company's long-term rating Show less Read more
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