Nissan Seeks to Raise $5 Billion to Pay for Recovery Plan (1)

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.

Nissan also plans to issue a total of $4 billion in unsecured dollar- and euro-denominated junk bonds for general corporate purposes including refinancing debt, according to a person familiar with the matter who asked not to be identified ...