John Deere is preparing a $1 billion securitization of equipment loans, according to a regulatory filing.
The deal, John Deere Owner Trust 2014, will issue four classes of notes: the $308 million class A-1 notes mature in May 2015; the $292 million class A-2 notes mature in September 2016; the $313 million class A-3 notes mature in April 2018; and the $94.2 million class A-4 notes mature in July 2020.
Bank of America Merrill Lynch, Barclays, HSBC, Mitsubishi UFJ Securities; and RBC Capital Markets are all listed in the prospectus as underwriters.
The notes will be backed by a pool of agricultural and construction equipment retail installment sale and loan contracts secured by new and used agricultural and construction equipment.
John Deere was last in the market with an $849 million equipment loan securitization in August of 2013.
