NISSAN AUTO RECEIVABLES Co II LLC 8-K
Research Summary
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NISSAN AUTO RECEIVABLES Co II LLC Announces $1.268B Auto-Loan Securitization
What Happened
- NISSAN AUTO RECEIVABLES Co II LLC (NARC II) and Nissan Motor Acceptance Company LLC (NMAC) filed an 8-K reporting an Underwriting Agreement dated May 20, 2026 with Wells Fargo Securities, LLC (representing the underwriters) to issue notes of the Nissan Auto Receivables 2026-A Owner Trust. The notes have an aggregate principal balance of $1,268,450,000 and are expected to be issued on or about May 27, 2026. The offering is registered under the Securities Act on Form SF-3.
Key Details
- Underwriting Agreement executed: May 20, 2026; expected Closing Date: on or about May 27, 2026.
- Aggregate principal amount of Notes: $1,268,450,000, issued in classes A-1, A-2a, A-2b, A-3, A-4, B and C.
- Collateral: retail installment sales contracts (receivables) tied to new, near-new and used automobiles and light-duty trucks transferred by NMAC to NARC II under a Purchase Agreement at closing.
- Trust and related agreements: Issuing Entity established April 9, 2026 (to be amended as of closing); forms of Indenture, Purchase Agreement, Sale & Servicing Agreement, Administration Agreement, Asset Representations Review Agreement, Amended & Restated Trust Agreement and Securities Account Control Agreement are filed as exhibits. A Form SF-3 depositor certification by the chief executive officer is also included.
Why It Matters
- This filing documents a securitization financing: NMAC is packaging auto-loan receivables into asset-backed notes to raise about $1.27 billion of funding. For investors, the transaction shows how NMAC/NARC II access capital markets via registered asset-backed securities. The materials filed (underwriting agreement, trust and servicing documents) provide the legal and operational terms that govern the issuance and servicing of the receivables backing the notes.