LONDON, April 27, 2017 /PRNewswire/ -- CNH Industrial
N.V. (NYSE: CNHI / MI: CNHI) today announced that its wholly owned
subsidiary, Case New Holland Industrial Inc., is redeeming all of
the outstanding $636,061,000
aggregate principal amount of its 7⅞% Senior Notes due 2017 (the
"2017 Notes"). The 2017 Notes will be redeemed in full on
June 1, 2017 (the "Redemption Date")
at a price equal to 100% of the principal amount thereof, plus
accrued and unpaid interest to the Redemption Date, if any, plus
the "make-whole" premium to be determined pursuant to the indenture
under which the 2017 Notes were issued.
Payment of interest due and payable on the Redemption Date will
be made to holders of record on the May 15,
2017 regular Record Date in accordance with the indenture
and applicable procedures of The Depository Trust Company. Case New
Holland Industrial Inc. intends to use cash on hand to fund the
redemption.
Inquiries related to procedures to redeem the 2017 Notes may be
directed to Wells Fargo Bank, National Association, as Trustee and
Paying Agent, by telephone at 1-800-344-5128 or by fax at
1-612-667-6282.
This press release does not constitute an offer to purchase or
sell, or the solicitation of an offer to purchase or sell, with
respect to the 2017 Notes or any other securities in any
jurisdiction in which such offer or solicitation would be unlawful
under the securities laws of any such jurisdiction.
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 the
Company 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. More information can be
found on the corporate website: www.cnhindustrial.com
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 our 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 our
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 we compete; 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; our 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; our pension plans and
other post-employment 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
factors, risks, and uncertainties that could materially affect the
Company's financial results is included in our annual report
on Form 20-F for the year ended December 31,
2016, prepared in accordance with U.S. GAAP and in the
Company's EU Annual Report at December 31, 2016, prepared 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 we operate, it is particularly difficult to
forecast our results and any estimates or forecasts of particular
periods that we provide in this press release are uncertain.
Accordingly, investors should not place undue reliance on such
forward-looking statements. We can give no assurance that the
expectations reflected in our forward-looking statements will prove
to be correct. Our outlook is based upon assumptions relating to
the factors described in the press release, which are
sometimes based upon estimates and data received from third
parties. Such estimates and data are often revised. Our actual
results could differ materially from those anticipated in such
forward-looking statements. We undertake no obligation to update or
revise publicly our outlook or forward-looking statements. Further
information concerning CNH Industrial and its businesses, including
factors that potentially could materially affect CNH Industrial'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 CNH
Industrial or persons acting on the behalf of CNH Industrial 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
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SOURCE CNH Industrial N.V.