Deals
Japan Fund Said to Meet With Banks This Weekend on Renesas
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A Japan-backed fund will negotiate with Renesas Electronics Corp.’s main banks this weekend and may announce an investment of more than 180 billion yen ($2.2 billion) in the ailing chipmaker as early as next week, a person with knowledge of the plan said.
Mitsubishi UFJ Financial Group Inc. and Mizuho Financial Group Inc. are among the lenders, and at least one bank wants to discuss whether to cut interest payments and extend loan deadlines for Renesas, the person said, asking not to be named because the negotiations aren’t public.