A Chinese unit majority owned by Nissan Motor Co. is prepping an auto loan securitization for CNY1.5 billion ($242 million).

While the collateral behind the deal is well cushioned against default — borrowers on average put down 65% of the vehicle's value — there is no back-up servicer.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.