John Deere priced $849 million of notes backed by equipment installment sale contracts, according to a filing with the Securities and Exchange Commission.
A $257 million tranche with a weighted average life (WAL) of 0.34 years priced to yield 0.25%. The tranche is rated ‘Prime-1’ by Moody’s Investors Service and ‘F1’ by Fitch Ratings.
The deal, John Deere Owner Trust 2013-B, also includes three tranches rated ‘Aaa’ by Moody’s and ‘AAA’ by Fitch:
A $227 million tranche with a WAL of 1.05 years was priced to yield 0.55%;
A $277 million tranche with a WAL of 2.15 years was priced to yield 0.87%;
And an $87.613 million tranche with a WAL of 3.32 years was priced to yield 1.39%.
