After a lull in the Canadian asset-backed market, two deals are getting ready to be marketed to investors. Coming out of the pipeline first is a C$140 million agricultural deal from Case Credit Canada and New Holland. Next, a C$300 million commercial mortgage-backed securities issuance from Merril Lynch Canada will enter the market.
The Case/New Holland deal, expected to price within the next week, is comprised of 45% of Case assets and 55% of New Holland assets. Agricultural makes up 88% of the offering and the remaining 12% is construction equipment. TD Securities is lead managing the deal.