TOKYO, May 28 (Reuters) - Japan's struggling Nissan ( NSANF )

is considering raising more than 1 trillion yen ($7

billion) from debt and asset sales which would include a

syndicated loan guaranteed by the UK government, Bloomberg News

said on Wednesday.

The country's third-biggest automaker plans to issue as much

as 630 billion yen worth of convertible securities and bonds,

including high-yielding U.S. dollar and euro notes, Bloomberg

News said, citing documents it had seen.

Nissan ( NSANF ) is also considering taking out a 1 billion pound

($1.35 billion) syndicated loan guaranteed by UK Export Finance,

the report said.

The report said Nissan ( NSANF ) is also looking at selling part of

the stakes it holds in French automaker and long-standing

alliance partner Renault and in battery maker AESC

Group, as well as plants in South Africa and Mexico.

Representatives for Nissan ( NSANF ) and UK Export Finance did not

respond to a request for comment.

Bloomberg News cited sources as saying that Nissan's ( NSANF ) board

did not appear to have approved the funding proposal yet,

leaving it unclear whether it would happen.

The proposal was also slated to include the rollover of some

debt, the report said.

Earlier this month, the company presented a sweeping

cost-cutting plan under which it plans to reduce its workforce

by around 15% and cut car plants to 10 from 17 globally.

Sources told Reuters this month that Nissan ( NSANF ) is considering

plans to shut two car assembly plants in Japan and overseas

factories, including in Mexico, and stop production in South

Africa as part of its cost-cutting plan.

Nissan's ( NSANF ) shares rose more than 4% following the report but

they gave up most of those gains and were last trading up 0.6%.

($1 = 144.5700 yen)

($1 = 0.7421 pounds)