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Bond Market News
Nissan to Back Out From the Merger with Honda – Sources
February 6, 2025
Nissan’s dollar bonds dropped by 2 points after it source reported that Nissan was stepping back from the merger talks with Honda. This could potentially derail a $60bn deal aimed at creating the world’s third-largest automaker. The discussions have faced complications due to growing differences between the two companies. Honda had suggested Nissan become a subsidiary, which Nissan rejected, as it contradicted the initial vision of a merger of equals. Both companies said that they aimed to finalize a decision by mid-February. Renault, Nissan’s alliance partner, has expressed openness to the merger but stated no decision has been made. The collapse of the talks raises concerns about Nissan’s ability to recover from its ongoing crisis without external support, especially as it deals with restructuring and the threat of tariffs. The merger talks were first announced in December last year.
Nissan’s 5.55% 2029s bond dropped by 2.2 points to trade at 96.9 cents on the dollar, yielding 6.34%
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