Business & Finance

Mazda to raise $2bn through loans, shares: NHK

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Battered by the strength in the yen and wanting to invest in a new plant in Mexico, the automaker will receive 70 billion yen through subordinated loans from banks, including Sumitomo Mitsui Financial Group and the Development Bank of Japan, NHK said.

NHK did not say whether the capital raising would be via an issue of common or preferred stock. A Mazda spokesman said the company was checking on the report.

Copyright Reuters, 2012