March 27, 2020 / 6:09 AM / 2 months ago

Toyota seeks $9.2-billion credit line from Sumitomo Mitsui, MUFG Bank: Kyodo

FILE PHOTO: A man walks past a Toyota logo at the Tokyo Motor Show, in Tokyo, Japan October 24, 2019. REUTERS/Edgar Su

TOKYO (Reuters) - Toyota Motor Corp (7203.T) has sought a credit line totaling 1 trillion yen ($9.23 billion) from Sumitomo Mitsui Banking Corp and MUFG Bank as a coronavirus pandemic drives up fund-raising costs, Kyodo News said on Friday.

In an email, Toyota declined to comment, saying, “We continuously evaluate our fundraising needs, but regarding reports in the press, we do not have anything to announce at this time.”

SMBC and MUFG Bank said they did not comment on individual companies.

Reporting by Chang-Ran Kim; Editing by Shri Navaratnam

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