JVC Kenwood to Renew 12.6 Billion Yen Commitment Line

JVC Kenwood Corp. said its home and car audio unit plans to renew a 12.6 billion yen ($165 million) one-year commitment line from a group of banks led by Resona Holdings Inc. (8308)

Kenwood Corp., which will merge with its parent on Oct. 1, aims to complete the renewal deal by the end of this month, JVC Kenwood’s Chief Financial Officer Satoshi Fujita told Bloomberg News after a briefing in Tokyo today.

To contact the reporter on this story: 占部絵美 in Tokyo at eurabe@bloomberg.net

To contact the editor responsible for this story: Pavel Alpeyev at palpeyev@bloomberg.net

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