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Nissan to problem $8 billion in dollar-denominated debt, Auto Information, Automobilnews – Information by Automobilnews.eu

Nissan to problem $8 billion in dollar-denominated debt, Auto Information, Automobilnews


It comes as buyers have expressed deepening concern about Nissan, which has warned of a file $4.5 billion loss this 12 months because the pandemic hampers its turnaround efforts.

TOKYO: Japan’s Nissan Motor Co will problem $8 billion in dollar-denominated debt and is contemplating euro-denominated bonds, it mentioned on Friday, because the troubled automaker appears to diversify its funding.The bond sale is its first dollar-denominated issuance since its tie-up with France’s Renault SA in 1999, a Nissan consultant mentioned.

It comes as buyers have expressed deepening concern about Nissan, which has warned of a file $4.5 billion loss this 12 months because the pandemic hampers its turnaround efforts.

Individually, IFR reported Nissan would promote some 2 billion euros ($2.37 billion) in euro-denominated debt. A Nissan spokeswoman mentioned an issuance was beneath dialogue, with out confirming the determine.The corporate will promote a $1.5 billion, 3-year bond with a coupon of three.043%, and a $1.5 billion, 5-year bond with a coupon of three.522%, in keeping with IFR.

Its $2.5 billion, 7-year bond carries a coupon of 4.345% and one other $2.5 billion bond, a 10-year, carries a 4.81% coupon, IFR mentioned.

Nissan had pledged to chop 300 billion yen ($2.83 billion)from annual mounted prices and grow to be a smaller, extra environment friendly firm. Japan’s second-largest carmaker is attempting to recuperate from a fast growth that has left it with dismal margins and an ageing portfolio.

Its enterprise has additionally been rocked by the arrest of long-time boss Carlos Ghosn.



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Nissan to problem $8 billion in dollar-denominated debt, Auto Information, Automobilnews – Information by Automobilnews.eu
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