Login or request a free trial

CNH Capital prices ABS

Finance company CNH Capital raised A$400 million of funds in the debt capital market yesterday, when it priced an issue of asset-backed securities.CNH is a specialist lending and leasing company operating in the agriculture, construction and transport markets. The $100 million A1 tranche of CNH Capital Australia Receivables Trust Series 2013-1, which has a weighted average life of six months, was priced at 45 basis points over the bank bill swap rate.Pricing on the $244.8 million A2 tranche, which has a weighted average life of 1.9 years, was 110 bps over the swap rate.Pricing on the $13.6 million B tranche, which has a weighted average life of 2.8 years, was 175 bps over the swap rate.And pricing on the $12 million C tranche, which has a weighted average life of 2.8 years, was 250 bps over the swap rate.ANZ was the lead manager and arranger of the deal.

I'm a returning subscriber

Password reset
Login

Request a free trial

  • Emailing you the news at 7am.
  • Covering core lending and funding issues, strategy, payments, regulation, risk management, IT, marketing and more.
  • Original news and summaries of major stories from other media – ditch your newspaper subscriptions.
  • Focused on banking and finance, saving you the time spent wading through newspapers and other services.
  • With reporting from former editors and senior writers from the AFR and The Australian.
  • Configured for your phone, laptop and PC.
Free trial Banking Day