Pricing of CNH Industrial Capital Canada Ltd. CAD$ 300 million notes
September 23 2021 - 5:15PM
London, September 23, 2021
CNH Industrial N.V. (NYSE: CNHI / MI: CNHI)
today announced that its indirect wholly owned subsidiary, CNH
Industrial Capital Canada Ltd., has priced CAD$ 300 million in
aggregate principal amount of 1.50% notes due October 1, 2024, with
an issue price of 99.936%. The notes are being offered on a private
placement basis to certain accredited investors in each of the
provinces of Canada, which offering is expected to close on
September 28, 2021, subject to the satisfaction of customary
closing conditions.
CNH Industrial Capital Canada Ltd. intends to
add the net proceeds from the offering to its general funds and use
them for working capital and other general corporate purposes,
including, among other things, the purchase of receivables or other
assets in the ordinary course of business. The net proceeds may
also be applied to repay CNH Industrial Capital Canada Ltd.’s
indebtedness as it becomes due.
The notes, which are senior unsecured
obligations of CNH Industrial Capital Canada Ltd., will pay
interest semi-annually on April 1 and October 1 of each year,
beginning on April 1, 2022, and will be guaranteed by CNH
Industrial Capital LLC, CNH Industrial Capital America LLC and New
Holland Credit Company, LLC, each an indirect wholly owned
subsidiary of CNH Industrial N.V.
***
The securities offered in the private placement
have not been and will not be qualified for sale to the public
under applicable securities laws in Canada and, accordingly, any
offer and sale of the securities in Canada will be made on a basis
which is exempt from the prospectus requirements of such securities
laws.
The securities offered in
the private placement have not been registered under
the Securities Act of 1933, as amended (the “Securities Act”), or
applicable state securities laws. Accordingly, the securities may
not be offered or sold in the United States except pursuant to an
effective registration statement or an applicable exemption from
the registration requirements of the Securities Act and such
applicable state securities laws.
This press release does not constitute an offer
to sell or a solicitation of an offer to buy any of these
securities, nor shall there be any sale of these securities, in any
state or jurisdiction in which such an offer, solicitation or sale
would be unlawful. This press release is being issued pursuant to
and in accordance with Rule 135c under the Securities Act.
Contacts:
Corporate Communications
Email: mediarelations@cnhind.com
Investor Relations
Email: investor.relations@cnhind.com
- 20210923_PR_CNH_Industrial_ Capital_Canada_Bond_Pricing
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