Renesas (RNECY.PK) secures ¥161B ($2.1B) in syndicated two-and-a-half year loans from four...

|About: Renesas Electronics Corp ADR (RNECY)|By:, SA News Editor

Renesas (RNECY.PK) secures ¥161B ($2.1B) in syndicated two-and-a-half year loans from four Japanese banks. The cash-strapped company, the worlds largest provider of microcontroller chips used in cars, also obtains another ¥97B in financing from the banks and from its major shareholders. The loans could put paid to KKR's (KKR) hopes of buying Renesas.