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Nissan Plans First Bond Sale in 3 Years
Nissan Motor Co. has filed regulatory papers signaling its plan to issue 100 billion yen ($940 million) in bonds.
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Nissan Motor Co. has filed regulatory papers signaling its plan to soon issue 100 billion yen ($940 million) in bonds, The Nikkei reports.
The bond float will be Nissan’s first in three years. It comes as Nissan implements a major restructuring program after its profit plummeted 95% in its fiscal first quarter ended June 30.
Nissan says it will spend the proceeds from the bond sale to fund advanced powertrains and autonomous vehicle development, upgrade plant equipment and retire debt.
The Nikkei says Nissan’s filing indicates it may offer another 150 billion yen worth of bonds over the next two years.
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