Marelli calls for financial support from Mizuho, other lenders

Economy

Marelli Holdings Co., a debt-saddled major auto parts maker, has called for financial support from Mizuho Bank and other lenders, sources familiar with the matter said Tuesday. Marelli, owned by U.S. private equity giant Kohlberg Kravis Roberts & Co., is believed to have a debt of about 1 trillion yen ($8.6 billion). It has been hit hard by reduced demand for auto parts as car companies cut production due to the coronavirus pandemic. Marelli, headquartered in Saitama near Tokyo, is considering using an out-of-court process to rehabilitate its business through a private-sector intermediary, acc...

Kyodo News

Kyodo News