CNH Australia unit eyes A$299 mln securities issue

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SYDNEY, Nov 14 (Reuters) - The Australian unit of U.S. farm
equipment marker CNH Global NV (CNH.N: Quote, Profile, Research, Stock Buzz), is discussing the
possible issue of A$299 million ($249 million) of securities
backed by equipment finance receivables, a fund manager said on
Wednesday.

The transaction would feature two tranches rated triple A
and BBB but only top rated bonds will be sold to investors, teh
fund manager said. The top rated tranche of A$250 million
offers a 1.2-year average life.

Lead arranger Citigroup declined to comment.

CNH's Australian unit last issued asset backed securities
in April 2006, when it sold A$405.3 million.
($1=A$1.12)
(Reporting by Cecile Lefort; editing by Jonathan Standing)