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Nissan to issue $8bn in US-dollar corporate bonds

Automaker to bolster cash reserves in face of costly reforms and pandemic

The move marks the first time Nissan has issued dollar-denominated bonds since it joined with French automaker Renault in 1999. (Photo by Kosuke Imamura) 

TOKYO -- Nissan Motor will issue $8 billion in U.S. dollar-denominated corporate bonds to offset expected sluggish sales due to the pandemic, hoping to shore up cash reserves to help weather the crisis.

Nissan issued domestic corporate bonds in July for the first time in four years. Due to the company's low rating, the amount issued was only 70 billion yen, prompting the company to look overseas where there are fewer risk-averse investors.

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