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Mazda Motor seeks $2.8 billion in loans to ride out pandemic

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Mitsubishi UFJ Financial, Sumitomo Mitsui Financial and Mizuho Financial Group along with the Development Bank of Japan, Sumitomo Mitsui Trust Holdings and others are set to agree, with some already having extended the loans TOKYO : Mazda Motor Corp has sought loans totalling about 300 billion yen ($2.8 billion) from Japan's three megabanks and other lenders to ride out the coronavirus epidemic, a source with direct knowledge of the matter said on Saturday.

The megabanks - Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group and Mizuho Financial Group - along with the Development Bank of Japan, Sumitomo Mitsui Trust Holdings and others are set to agree, with some already having extended the loans, the person said, declining to

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