TOKYO: Japan's Nissan Motor Co will issue $8 billion in dollar-denominated debt, it said on Friday, marking the latest move by the troubled automaker to diversify its funding.

The bond sale marks Nissan's first dollar-denominated debt issuance since its capital alliance with France's Renault SA in 1999, a Nissan spokeswoman said.

Later on Friday IFR reported Nissan would sell some 2 billion euros ($2.37 billion) in euro-denominated debt.

Nissan was not immediately available to comment on that debt issuance.

Nissan had pledged to cut 300 billion yen ($2.83 billion)from annual fixed costs and become a smaller, more efficient company after the pandemic exacerbated a slide in profitability that culminated in its first annual loss in more than a decade.