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Market Chatter: MUFG Bank, Sumitomo Mitsui in Talks to Renew Nidec's $3.8 Billion Credit Lines

MT Newswires Live
Yesterday

Mitsubishi UFJ Financial Group's (MUFG) MUFG Bank and Sumitomo Mitsui Financial Group's (SMFG) Sumitomo Mitsui Banking are in talks with Nidec to renew committed credit lines totaling 600 billion Yen ($3.8 billion), Bloomberg reported Friday, citing Nidec's spokesperson.

Nidec is reviewing liquidity options, but no decision has been made on the renewal amount, the report said.

The discussions come amid investor concerns over an accounting scandal, earnings revisions and impairment losses, it added.

Nidec, Sumitomo Mitsui Banking and MUFG Bank did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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