NEW YORK, Feb 17 (Reuters) - Harley-Davidson Inc. plans to offer $625 million in asset-backed securities, supported by loans its finance unit made to buyers of its motorcycles, a source close to the deal said on Tuesday.
J.P. Morgan Securities is heading the deal's underwriting team that includes ABN AMRO, BNP Paribas and Citigroup Global Markets, the source said.
Following are the early terms and conditions for "Harley-Davidson (HDMOT) 2004-1" (subject to change):
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Class A1
Issue Amount $379 million
Average Life 1.0 year
Price Guidance eurodollar futures + 4 bps area
Ratings Aaa (Moody's), AAA (S&P)
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Class A2
Issue Amount $214.75 million
Average Life 2.87 years
Price Guidance Interpolated swaps + 5 bps area
Ratings Aaa (Moody's), AAA (S&P)
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Class B
Issue Amount $31.25 million
Average Life 1.68 years
Price Guidance eurodollar futures + low-20s bps
Ratings A2 (Moody's), A (S&P)
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Settlement Date Feb 25, 2004