Japan's Nissan Motor Co will issue $8bn in dollar-denominated debt (roughly R134.05bn) and is considering euro-denominated bonds, it said on Friday, as the troubled automaker looks to diversify its funding.

The bond sale is its first dollar-denominated issuance since its tie-up with France's Renault SA in 1999, a Nissan representative said.

It comes as investors have expressed deepening concern about Nissan, which has warned of a record $4.5bn loss (roughly R75.4bn) this year as the pandemic hampers its turnaround efforts.

Separately, IFR reported Nissan would sell some €2bn ($2.37bn or roughly R39.7bn) in euro-denominated debt. A Nissan spokesperson said an issuance was under discussion, without confirming the figure.

The company will sell a $1.5bn (roughly R25.12bn), 3-year bond with a coupon of 3.043%, and a $1.5bn, 5-year bond with a coupon of 3.522%, according to IFR.

Its $2.5bn (roughly R41.84bn), 7-year bond carries a coupon of 4.345% and another $2.5bn bond, a 10-year, carries a 4.81% coupon, IFR said.

Nissan had pledged to cut 300 billion yen ($2.83bn or roughly R47.36bn) from annual fixed costs and become a smaller, more efficient company. Japan's second-largest carmaker is trying to recover from a rapid expansion that has left it with dismal margins and an ageing portfolio.

Its business has also been rocked by the arrest of long-time boss Carlos Ghosn.