Nissan plans to sell $5 billion in debt to help fund new chief executive officer Ivan Espinosa’s turnaround of the ailing automaker, part of a broader financing initiative to keep operations on track.
The Japanese carmaker will sell ¥150 billion ($1 billion) of convertible bonds for investment in new products and technologies, the company said on Monday.
Nissan also plans to issue $4 billion in unsecured dollar- and euro-denominated bonds for general corporate purposes, according to Fitch Ratings, which has assigned a BB rating to the debt.
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