UPDATE 2-Nissan seeks $4.6 bln credit line as coronavirus hammers car demand -sources [Reuters]
NISSAN MOTOR LTD S/ADR (NSANY)
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Source: Reuters
Nissan seeks $4.6 billion credit line as coronavirus hammers car demand: sources TOKYO (Reuters) - Nissan Motor Co Ltd ( 7201.T ) has requested a $4.6 billion commitment line from major lenders to cushion the impact of the coronavirus pandemic while it seeks to engineer a desperately needed turnaround, people with knowledge of the matter said. As the virus decimates car demand and disrupts production across the industry, Nissan is particularly vulnerable, still reeling from sharp drops in profits after decades of aggressive expansion as well as management chaos due to the scandal surrounding ousted leader Carlos Ghosn. Nissan is requesting the 500 billion yen in funding given the possibility the impact of the coronavirus on production and demand could continue for an extended period, one of the people said. The amount has not been finalised, the second person said. The sources declined to be identified as they were not authorised to speak to the media. A Nissan spokeswoman said the
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