CNH prices equipment deal as trade war deepens

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By Jennifer Kang
14 May 2019

CNH Industrial priced an equipment ABS transaction Wednesday, as securitization analysts and investors eye heightened tensions in the US-China trade war with possible knock-on effects for the esoteric ABS subsector.

The $751.14m deal is mostly comprised of agricultural equipment and roughly 10% construction equipment. The class ‘A-1’ notes were priced at 2bp over interpolated Libor and the ‘A-2’ notes were priced at 17bp over euro dollar spot forward. All tranches, with the exception of ‘A-1’, priced a few ...

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