Nissan Clinches $4.5 Billion Bond Deal After Orders Soar (3)

Nissan Motor Co. has raised $4.5 billion from a junk-bond sale in US dollar and euros, with the embattled automaker offering a record-high coupon on at least one part of the deal to drum up demand.

One component carried a yield of 8.125%, topping Nissan’s previous record yield of 7.5% for a 10-year dollar bond issued in 1986, data compiled by Bloomberg showed. Despite concerns around the company’s strategic plans, it still attracted around $11 billion in investor demand for the junk-bond sale, which will help refinance its debt burden.

Nissan’s multi-tranche transaction is part of a broader effort ...