Japan’s Nissan Motor has raised $4.52 billion in U.S. dollar and eurodenominated senior unsecured bonds, according to a term sheet reviewed by Reuters on Friday, with the proceeds intended to refinance existing debt.

The issuance comes about a week after Reuters reported that Nissan has asked some suppliers to allow it to delay payments to free up shortterm funds, highlighting its scramble to boost cash.

According to the term sheet, $3 billion was raised through three U.S. dollar tranches with 5, 7, and 10year maturities, while a further 1.3 billion euros ($1.52 billion) were issued in four and eightyear tranches.

The U.S. dollar 5year bonds were priced at 355 basis points (bps) over Treasuries, the 7year at 360 bps, and the 10year at 376 bps.

The coupons are 7.5% for the fiveyear tranche, 7.75% for the sevenyear tranche and 8.125% for the 10year tranche, the term sheet showed.

Citi, Bank of America and HSBC were joint book runners for the bond sales, according to the term sheet.

The automaker faces around 700 billion yen ($4.76 billion) in debt maturing this financial year and has been downgraded to “junk” status by all three major creditrating agencies.