CNH Capital America is marketing its third equipment lease securitization of the year, the $755.5 million CNH Equipment Trust 2013-C, according to a filing with the Securities and Exchange Commission today.
It's expected to close sometime this month.
Credit Suisse, Deutsche Bank Securitites, and Rabo Securities are joint bookrunners on the class A and B notes. Citigroup, Third Street Securities, and Societe Generale are named as co-managers on the class A notes only.
The capital structure will offer $165 million A-1 notes, $250 million A-2 notes, $223 million A-3 notes, and $17 million B notes. The classes have final maturities of Sept. 15, 2014, Jan. 17, 2017, Aug. 15, 2018, Aug. 16, 2021, and Aug. 16, 2021, respectively.
The notes are backed by fixed-rate retail installment sale contracts and retail installment loans secured by agricultural or construction equipment.
New Holland Credit Company will service the notes.
CNH was last on the market with a $725 million deal, CNH Equipment Trust 2013-B, in May.