BIZ BRIEF: Mitsubishi Motors Thailand secures major credit lines

March 02, 2012

Mitsubishi Motors Thailand (MMTh), the exclusive distributor, producer and subsidiary of Mitsubishi Motors Corp. (MMC), has secured committed lines of credit from several local Thai banks with a total limit of 25 billion baht (about 65 billion yen or $813 million).

With the new lines of credit, MMTh will obtain flexible and stable financing that could be used to further strengthen its business.

In addition, these committed lines of credit supplement the liquidity of the MMC Group as any loans from these lines can be directed from MMTh to MMC.

The contracts with the banks will last beyond MMC's current JUMP 2013 mid-term business plan, with a term of three years.

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