Nissan to Sell ¥150 Billion Convertible Bonds For Recovery

Nissan Motor Co. plans to sell about $5 billion in debt to help fund Chief Executive Officer Ivan Espinosa’s turnaround of the ailing automaker, part of a broader financing initiative to keep operations on track.

The Japanese carmaker will sell ¥150 billion ($1 billion) of convertible bonds for investment in new products and technologies, the company said on Monday.