Nissan Bond Sale Benefits From Market ‘Flush With Liquidity’ (1)

Nissan Motor Co.’s latest move to rescue itself benefited from a bullish US bond market to fully fund its $4.5 billion bond deal, even as questions lingered about its financial health.

One of Nissan’s dollar note tranches carried a yield of 8.125%, topping its previous record yieldof 7.5% for a 10-year US currency debt issued in 1986, according to data compiled by Bloomberg. The higher rates helped bring in about $11 billion in orders for the dollar and euro offering.

The success of the deal also reflects the huge amount of cash swirling in the debt ...