Nissan Financial Services Announces Funding Milestone

VICTORIA, AUSTRALIA – March 22, 2010: Following the successful launch of the auto financier Nissan Financial Services Australia Pty Ltd (NFSA), a wholly owned subsidiary of Nissan Motor Company Australia Pty Ltd, during the acute period of the credit crisis in late 2008, NFSA today announced that it has raised over $160M of medium term funding. The transaction involved the support of highly rated international financial institutions, including a Japanese government backed financier. The pricing equivalent to highly rated corporate securities, combined fixed and variable interest rate elements, raised in Australian dollars swapped from US$ on the international market.

Leondis said “This is great news for our stakeholders, and is a signal of confidence by the investment community in the Australian manufacturer backed auto finance sector. It also shows that the global positioning of the Nissan brand is solid and has come through the financial crisis with good momentum.”

This tranche of funding will enable NFSA to expand rapidly its financing on key vehicle marketing and dealer development projects, and will help to support Nissan’s planned growth in Australia.

Leondis commented further “This transaction has significant flexibility for us to work constructively with our banking and financial partners on further funding opportunities, through a combination of senior debt facilities and structured products, and to accelerate our book of auto loan receivables in the medium term.”