TOKYO, Sept 30 (Reuters) - Japanese truck maker Nissan Diesel Motor said on Tuesday that its main banks and major shareholder Nissan Motor would extend it 106 billion yen ($957 million) in financial aid to help its balance sheet.
The announcement was expected after detailed reports of a bailout had circulated for nearly two weeks, lifting the truck maker's shares by more than 10 percent since the first report.
Under the plan, Mizuho Corporate Bank , Mizuho Trust & Banking Co and Resona Bank will swap 90 billion yen of loans for preferred shares. Nissan Motor will provide 16 billion yen by swapping debt and convertible bonds into preferred equity.
Nissan Motor owns 22.5 percent of Nissan Diesel.