Nissan Motor raises $4.52 billion through U.S. dollar- and euro-denominated bonds to refinance existing debt. The issuance follows a request to suppliers to delay payments for short-term funds. $3 billion raised in U.S. dollar tranches with 5-, 7-, and 10-year maturities, and 1.3 billion euros in four- and eight-year tranches.

The U.S. dollar bonds were priced at 355, 360, and 376 basis points over Treasuries for 5-, 7-, and 10-year maturities. Coupons are 7.5%, 7.75%, and 8.125% for the respective tranches. Citi, Bank of America, and HSBC served as joint book runners for the bond sales.

Nissan faces 700 billion yen ($4.76 billion) in debt maturing this financial year and holds a “junk” status by major credit-rating agencies. The bond issuance aims to address the financial challenges the automaker is currently facing.

Read more at Yahoo Finance: Nissan Motor raises $4.5 billion in bond sales, term sheet shows