Nissan Begins First Dollar Bond Sale Since 1999 Alliance
Nissan Motor Co. kicked off the sale of its first non-convertible dollar bonds since its corporate alliance began in 1999, as the Japanese carmaker tries to boost finances after its biggest loss in two decades. The carmaker is doing a multi-tranche deal including three-year and 10-year notes, according to people familiar with the matter. The Yokohama-based company has already received financial backing from the state-controlled Development Bank of Japan Inc., according to local media reports over the weekend, and in July priced 70 billion yen ($659 million) of notes in its home market. Nissan, which allied with Renault SA in 1999 and later also with Mitsubishi Motors Corp., is cutting jobs and capacity as the pandemic hits demand, while seeking to revive an aging lineup and improve margins at the same time. For the current fiscal year through March, Nissan is forecasting a 470 billion yen operating loss. The automaker has been mired in turmoil since the 2018 arrest of former Chairman Carlos Ghosn. The company’s ratings have also suffered and S&P Global Ratings cut Nissan’s credit score to just one level above junk in July. The three-year notes are being marketed at an initial price guidance of about 325 basis points over Treasuries, and 10-year bond at 437.5 to 450 basis points, according to the people. The benchmark-sized deal also includes five-year and seven-year securities.
Nissan’s mandate to banks earlier in the week included possible sales of euro-denominated bonds as well.
https://www.bloomberg.com/news/articles/2020-09-10/nissan-begins-first-dollar-bond-sale-since-1999-alliance
if they ever get collective head out of ass and build a small pickup (either here or import it) they would clean up.
>bloated vehicles
overly complicated for no reason
why I stuck with muh 4runner
It's old but low miles and perfectly maintained.
get notes on it all the time to sell
Don't need anything moar than that.
those are great trucks and so easy to work on
I believe it does but I am barely over 120K and have done everything: cooling sys upgraded, all belts/pumps, put bilsteins on it etc. valve cover gaskets.
Synthetic oil every 10k or so
Just did the starter recently
Plus the normal maintenance stuff
It's been a great vehicle
I like to keep them rather than pay for 'em over and over.
its a 2k yr and have a bimmer a little younger and same with that:maintain,maintain maintain.
ty anon appreciate the input.
No plans to get rid of it
older bimmers not bad just bad owners for the most part.
all german cars you have to do the upkeep
Had Audis before and know all too well about those too.
They both became over-engineered status symbols.
Need an electrical engineering degree to work on them now.
for sure!
remember the cosmoline peeling off the 5KTQ I had as they sprayed it everywhere in the engine bay-even on the hoses
Made a mess on everything when it finally lost it's stick
kek
kek