Nissan plans $7 billion funding, backed partly by UK government, Bloomberg News says

TOKYO: Japanese automaker Nissan is considering raising more than 1 trillion yen ($7 billion) by issuing convertible securities and bonds, as well as a syndicated loan guaranteed by the UK government, Bloomberg News said on Wednesday.

Japan’s third-biggest automaker plans to issue as much as 630 billion yen in convertible securities and bonds, including high-yielding US dollar and euro notes, Bloomberg News said, citing documents it had seen about the matter.

Nissan to suspend operations at some domestic plants as part of restructuring, Nikkei says

Nissan is also considering taking out a 1 billion pound ($1.35 billion) syndicated loan, guaranteed by UK Export Finance, the report said.

Nissan spokespeople did not immediately respond to a request for comment.

Its shares rose following the report, and were last trading up about 1% after giving back some of their gains.