CNH prices equipment deal as trade war deepens

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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