CNH Capital prices eighth Australian ABS deal

Wednesday, 10 July 2013

Updated

Issue name: CNH Capital Australia
Sponsor: CNH Capital
Deal type: asset-backed securities
Pricing date: July 10 2013
Settlement date: July 15 2013
Total deal volume: A$400 million (US$367.546 million)
Arranger: ANZ
Lead manager: ANZ

Note class: A1
Tranche volume: A$100 million
Tranche rating: A-1
WAL: 0.5 yrs
Margin to swap: 45bp/BBSW

Note class: A2
Tranche volume: A$244.8 million
Tranche rating: AAA
WAL: 1.9 yrs
Margin to swap: 110bp/BBSW

Note class: B
Tranche volume: A$13.6 million
Tranche rating: AA
WAL: 2.8 yrs
Margin to swap: 175bp/BBSW

Note class: C
Tranche volume: A$12 million
Tranche rating: A
WAL: 2.8 yrs
Margin to swap: 250bp/BBSW

Note class: Seller
Tranche volume: A$29.6 million
Tranche rating: NR
WAL: NA
Margin to swap: ND

Issuer's previous issue date: September 23 2011
Previous issue volume: A$1.5 billion
Previous issue largest tranche margin (WAL): 160bp/BBSW (2yrs)