TOKYO (Reuters) - Japan's Nissan Motor Co (T:7201) will issue $8 billion(6.26 billion pounds) in dollar-denominated debt and is considering euro-denominated bonds, it said on Friday, as the troubled automaker looks to diversify its funding.
The bond sale is its first dollar-denominated issuance since its tie-up with France's Renault SA (PA:RENA) in 1999, a Nissan representative said.
It comes as investors have expressed deepening concern about Nissan, which has warned of a record $4.5 billion loss this year as the pandemic hampers its turnaround efforts.
Separately, IFR reported Nissan would sell some 2 billion euros in euro-denominated debt. A Nissan spokeswoman said an issuance was under discussion, without confirming the figure.
The company will sell a $1.5 billion, 3-year bond with a coupon of 3.043%, and a $1.5 billion, 5-year bond with a coupon of 3.522%, according to IFR.
Its $2.5 billion, 7-year bond carries a coupon of 4.345% and another $2.5 billion bond, a 10-year, carries a 4.81% coupon, IFR said.
Nissan had pledged to cut 300 billion yen ($2.83 billion)from annual fixed costs and become a smaller, more efficient company. Japan's second-largest carmaker is trying to recover from a rapid expansion that has left it with dismal margins and an ageing portfolio.
Its business has also been rocked by the arrest of long-time boss Carlos Ghosn.
