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Investing.com -- Nissan (OTC:NSANY) Motor shares fell more than 6% on Tuesday, continuing a decline that began Monday after the Japanese automaker expanded its convertible bond offering.
The company increased the size of its six-year convertible bond issuance to 200 billion yen ($1.4 billion) from the previously announced 150 billion yen, citing strong demand during the book building process, according to a company filing.
In addition to the convertible bonds, Nissan revealed on Monday plans to sell $4 billion in U.S. dollar- and euro-denominated senior unsecured bonds.
The fundraising efforts come as Nissan has reportedly asked some suppliers to delay payments, suggesting the struggling automaker is working to improve its cash position.
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