Nissan Motor launched a dual-currency multi-tranche 144A/RegS senior unsecured bond offering yesterday to raise USD 4 bn. The offering comprises USD notes with maturities of 5, 7 and 10 years, as well as EUR notes with maturities of 4 and 8 years. The proceeds will be used for refinancing and general corporate purposes. We find IPT for Nissan's proposed USD notes at mid 7% for the 5Y bonds, high 7% for the 7Y notes and low 8% for the 10Y bonds as fair.
Toyota Motor is facing another challenging year, as it continues to invest heavily in new technologies, is supporting its suppliers, while having to deal with the uncertainty over the impact of US import tariffs. Its FY25 guidance numbers do not yet fully reflect the potential costs related to these duties, risking an earnings downgrade later this year. Criticism over its handling of the Toyota Industries privatisation is mounting, with questions raised over corporate governance. Analyst Julie B...
As US auto tariffs remain in place, investors need to assess whether auto-related government negotiations will be successful, and what automakers can do to mitigate the potential surge in costs. Analyst Julie Boote reviews potential outcomes.
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.