CNH Plans $725M Equipment Lease ABS

Published May 17, 2013, 8:34 a.m. EDT

1 Min Read

CNH Capital America plans to issue its second equipment lease ABS deal of this year, the $725 million CNH Equipment Trust 2013-B.

The capital structure will offer $708.7 million class A notes and a $16.31 million class B note, according to a deal prospectus file with the U.S. Securities and Exchange Commission on Thursday.

The notes are backed by fixed rate retail installment sale contracts and retail installment loans secured by agricultural or construction equipment.

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Bank of America Merrill Lynch, Citigroup and Credit Agricole are joint bookrunners on the class A and B notes. Credit Suisse and RBC Capital Markets are named as co-managers on the class A notes only.

CNH was last in the market in February with its $1.25 billion, equipment lease ABS deal, CNH Equipment Trust 2013-A.

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