CNH Plans $20M Equipment ABS

CNH Capital America has filed a registration statement with the Securities and Exchange Commission to issue a $20 million equipment trust asset backed securitization.

The Dec. 7 filing did not offer details on the capital structure of the deal and it did not indicate if the issuer plans to come to market before year-end. CNH Capital was last in the market in November with the $150 million CNH Equipment Trust 2012-D.

December has started off busy in the non-mortgage ABS market with six transaction pricing last week for a total of $3.5 billion, according to market reports. Analysts at Barclays Capital said in a report published on Friday that they expect equipment ABS issuance to total $14.5 billion for 2012 as a whole, which would be an all-time high.

“Equipment trust has been relatively consistent at $9 billion to $12 billion [a year] and we expect $12 billion to $15 billion in volume next year as investor demand for spread and diversification in non-mortgage ABS continues,” the analysts said.