(Bloomberg) — Nissan Motor Co. launched a $4.5 billion sale of dollar- and euro-denominated bonds as the automaker seeks to recover from a massive annual loss that forced it to offer a record-high coupon for one of the tranches.
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The coupon for its €1.3 billion ($1.5 billion) of four- and eight-year euro maturities are set to be 5.25% and 6.375%, according to a person with knowledge of the matter who asked not to be identified. Nissan’s planned $3 billion of five-, seven- and 10-year notes launched at respective yields of yields of 7.5%, 7.75% and 8.125%.
Nissan’s previous record yield was 7.5% on a 10-year dollar bond issued in 1986, according to data compiled by Bloomberg.
Nissan Gets Roughly $11 Billion Bids for Dollar, Euro Bond Sale
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