LONDON, Dec. 21, 2016 /PRNewswire/ -- CNH Industrial
N.V. (NYSE: CNHI /MI: CNHI) ("CNH Industrial") hereby announces the
final results of the cash tender offer (the "Tender Offer")
commenced by its wholly owned subsidiary Case New Holland
Industrial Inc. (the "Company") for a portion of its $1,050,000,000 7 ⅞% Senior Notes due 2017 (the
"Notes") guaranteed by CNH Industrial and certain of CNH
Industrial's direct and indirect subsidiaries. The terms and
conditions of the Tender Offer are described in an offer to
purchase dated November 22, 2016, the
date of commencement of the Tender Offer.
The Tender Offer expired at 11:59
p.m., New York City time,
on December 20, 2016 (the "Expiration
Time"). As announced by CNH Industrial on December 7, 2016, the aggregate principal amount
of Notes validly tendered and not withdrawn by the Early Tender
Time of 5:00 p.m., New York City time, on December 6, 2016 reached the increased Maximum
Tender Amount of $413,939,000 and the
Company purchased $413,939,000 in
aggregate principal amount of Notes on December 9, 2016. Therefore, no additional Notes
will be accepted for purchase. Notes tendered and not accepted for
purchase will be promptly returned or credited to the holder's
account.
About CNH Industrial
CNH Industrial N.V. (NYSE: CNHI /MI: CNHI) is a global leader in
the capital goods sector with established industrial experience, a
wide range of products and a worldwide presence. Each of the
individual brands belonging to CNH Industrial is a major
international force in its specific industrial sector: Case IH, New
Holland Agriculture and Steyr for tractors and agricultural
machinery; Case and New Holland Construction for earth moving
equipment; Iveco for commercial vehicles; Iveco Bus and Heuliez Bus
for buses and coaches; Iveco Astra for quarry and construction
vehicles; Magirus for firefighting vehicles; Iveco Defence Vehicles
for defence and civil protection; and FPT Industrial for engines
and transmissions.
Forward-looking statements
All statements other than statements of historical fact
contained in this press release including statements regarding our:
competitive strengths; business strategy; future financial position
or operating results; budgets; projections with respect to revenue,
income, earnings (or loss) per share, capital expenditures,
dividends, capital structure or other financial items; costs; and
plans and objectives of management regarding operations and
products, are forward-looking statements. These statements may
include terminology such as "may", "will", "expect", "could",
"should", "intend", "estimate", "anticipate", "believe", "outlook",
"continue", "remain", "on track", "design", "target", "objective",
"goal", "forecast", "projection", "prospects", "plan", or similar
terminology. Forward-looking statements are not guarantees of
future performance. Rather, they are based on current views and
assumptions and involve known and unknown risks, uncertainties and
other factors, many of which are outside the Company's control and
are difficult to predict. If any of these risks and uncertainties
materialize or other assumptions underlying any of the
forward-looking statements prove to be incorrect, the actual
results or developments may differ materially from any future
results or developments expressed or implied by the forward-looking
statements. Factors, risks, and uncertainties that could cause
actual results to differ materially from those contemplated by the
forward-looking statements include, among others: the many
interrelated factors that affect consumer confidence and worldwide
demand for capital goods and capital goods-related products;
general economic conditions in each of the Company's markets;
changes in government policies regarding banking, monetary and
fiscal policies; legislation, particularly relating to capital
goods-related issues such as agriculture, the environment, debt
relief and subsidy program policies, trade and commerce and
infrastructure development; government policies on international
trade and investment, including sanctions, import quotas, capital
controls and tariffs; actions of competitors in the various
industries in which the Company competes; development and use of
new technologies and technological difficulties; the interpretation
of, or adoption of new, compliance requirements with respect to
engine emissions, safety or other aspects of our products;
production difficulties, including capacity and supply constraints
and excess inventory levels; labor relations; interest rates and
currency exchange rates; inflation and deflation; energy prices;
prices for agricultural commodities; housing starts and other
construction activity; the Company's ability to obtain financing or
to refinance existing debt; a decline in the price of used
vehicles; the resolution of pending litigation and investigations
on a wide range of topics, including dealer and supplier
litigation, follow-on private litigation in various jurisdictions
after the recently settled EU antitrust investigation announced on
July 19, 2016, intellectual property
rights disputes, product warranty and defective product claims, and
emissions and/or fuel economy regulatory and contractual issues;
the evolution of our contractual relations with Kobelco
Construction Machinery Co., Ltd. and Sumitomo (S.H.I.) Construction
Machinery Co., Ltd.; the Company's pension plans and other
postemployment obligations; political and civil unrest; volatility
and deterioration of capital and financial markets, including
further deterioration of the Eurozone sovereign debt crisis,
possible effects of Brexit, political evolutions in Turkey, terror attacks in Europe and elsewhere, and other similar risks
and uncertainties and our success in managing the risks involved in
the foregoing. Further information concerning the Company and its
businesses, including factors, risks and uncertainties that could
materially affect the Company's financial results is included in
CNH Industrial's annual report on Form 20-F for the year ended
December 31, 2015, prepared in
accordance with U.S. GAAP, the Company's subsequently filed reports
on Form 6-K, in its EU Annual Report at December 31, 2015, prepared in accordance with
EU-IFRS and Semi-Annual Report for the period ended on June 30, 2016 in accordance with EU-IFRS.
Investors should refer to and consider the incorporated information
on risks, factors, and uncertainties in addition to the information
presented here.
Forward-looking statements speak only as of the date on which
such statements are made. Furthermore, in light of ongoing
difficult macroeconomic conditions, both globally and in the
industries in which CNH Industrial operates, it is particularly
difficult to forecast results, and any estimates or forecasts of
particular periods that are provided in this announcement or the
Offer to Purchase are uncertain. Accordingly, investors should not
place undue reliance on such forward-looking statements. The
Company can give no assurance that the expectations reflected in
any forward-looking statements will prove to be correct. Actual
results could differ materially from those anticipated in such
forward-looking statements. The Company's outlook is based upon
assumptions relating to the factors described in this announcement
or the Offer to Purchase, which are sometimes based upon estimates
and data received from third parties. Such estimates and data are
often revised. The Company undertakes no obligation to update or
revise publicly its outlook or forward-looking statements, whether
as a result of new developments or otherwise. Further information
concerning CNH Industrial and its businesses, including factors
that potentially could materially affect the Company's financial
results, is included in CNH Industrial's reports and filings with
the U.S. Securities and Exchange Commission ("SEC"), the Autoriteit
Financiële Markten ("AFM") and Commissione Nazionale per le Società
e la Borsa ("CONSOB").
All future written and oral forward-looking statements by the
Company or persons acting on Company's behalf are expressly
qualified in their entirety by the cautionary statements contained
herein or referred to above.
For more information contact:
Corporate Communications
Email: mediarelations@cnhind.com
Investor Relations
Email: investor.relations@cnhind.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/cnh-industrial-announces-final-results-of-cash-tender-offer-for-senior-notes-due-2017-issued-by-its-subsidiary-case-new-holland-industrial-inc-300382442.html
SOURCE CNH Industrial N.V.