Nissan, which is facing a huge wall of loan repayments next year, is seeking to raise more than ¥1 trillion ($7 billion) by issuing debt and selling assets to keep its operations on track, according to internal documents.
The struggling Japanese automaker plans to issue as much as ¥630 billion in convertible securities and bonds, including high-yielding dollar and euro notes, the documents show. Nissan also plans to take out a £1 billion ($1.4 billion) syndicated loan, guaranteed by U.K. Export Finance. Nissan operates Britain's largest automaking hub, in Sunderland.
In addition, Nissan is seeking to sell part of the 15% stake it owns in Renault and the equity interest it has in battery maker AESC Group, as well as plants in South Africa and Mexico. Sale-and-lease-back plans for its Yokohama headquarters, plus properties it owns in the United States, are also on the cards.
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