The struggling Japanese automaker, undergoing massive restructuring in response to poor sales in the United States and China, said the bond issuance will help “further enhance liquidity in its automotive business to support medium- and long-term strategies.”

Of the total amount raised, about 660 billion yen came from the issuance of debt in the form of U.S. dollar- and euro-denominated bonds, and 200 billion yen from convertible bonds, which allow holders to convert them into shares under certain conditions.

The funds will be used to pay off debt that is maturing in fiscal 2025 and to invest in new products and technologies such as vehicle electrification and digitalization, Nissan