LONDON -- Automotive industry borrowers have raised $155 billion amid the coronavirus outbreak as the pandemic shutters showrooms and factories.
Companies worldwide have been drawing down on existing credit lines and seeking new credit deals to weather the health crisis, which has hit demand for vehicles.
The $155 billion gathered since mid-March, when global cities went into lockdown, is equivalent to the total issuance in the eight-month period before that.
The $44 billion in bonds sold in the period is greater than the industry's issuance in any single quarter.
The $111 billion in loans raised in the period could match the sales of $133 billion in all of 2019, once about $18 billion of pending deals get completed.