Nissan Auto Receivables Co II LLC Issues $1.29B Asset-Backed Notes

What Happened
Nissan Auto Receivables Company II LLC (NARC II) and Nissan Motor Acceptance Company LLC (NMAC) completed a securitization on September 30, 2026. NMAC transferred retail motor-vehicle installment receivables to NARC II and those receivables were sold to the Nissan Auto Receivables 2026-B Owner Trust (the Issuing Entity). The Issuing Entity issued $1,285,670,000 aggregate principal amount of asset-backed notes under an Indenture and entered into related agreements (purchase, sale & servicing, administration and asset representations review agreements). The notes were sold to underwriters led by Mizuho Securities USA LLC and are registered under Form SF-3 (Reg. File No. 333-279448).

Key Details

• Closing Date: September 30, 2026.
• Total notes issued: $1,285,670,000 aggregate principal amount, comprised of:
  • Class A-1: $276,000,000
  • Class A-2a: $364,600,000
  • Class A-2b: $80,000,000
  • Class A-3: $444,600,000
  • Class A-4: $81,500,000
  • Class B: $21,430,000
  • Class C: $17,540,000
• Parties and roles: NARC II (depositor/seller), NMAC (seller, sponsor, servicer, administrator), Issuing Entity (issuer/trust), Wilmington Trust NA (owner trustee), U.S. Bank Trust Co. NA (certificate registrar/paying agent and securities intermediary), Clayton Fixed Income Services LLC (asset representations reviewer).
• Documentation: Purchase Agreement, Sale and Servicing Agreement, Indenture, Administration Agreement, Asset Representations Review Agreement, Amended and Restated Trust Agreement and Securities Account Control Agreement were executed and are filed as exhibits.

Why It Matters
This filing documents a standard auto-loan securitization that moves retail vehicle loan receivables off NMAC’s balance sheet into a trust and funds those receivables by issuing rated asset-backed notes to investors. For investors, the key takeaways are the size of the transaction ($1.2857B), the tranche structure (multiple classes of notes with specified principal amounts), and that the offering is registered under the Securities Act. This impacts credit investors and the funding profile of NMAC (as sponsor/servicer) but does not report earnings or executive changes.