Nissan Raises $4.5-B In Record-High Junk Bond Offering

Nissan Motor has secured $4.5 billion from a junk bond sale in U.S. dollars and euros, tapping strong investor demand despite concerns over its turnaround plans, Bloomberg News reported.

 Nissan has also raised ¥200 billion from convertible bonds. I Photo: Nissan

One tranche carried a record 8.125% yield, the automaker’s highest since 1986. The deal drew over $11 billion in orders and is part of a broader effort to raise ¥1 trillion ($6.8 billion), including via asset sales, to stabilize operations.

Earlier in the week, Nissan also raised ¥200 billion from convertible bonds.