Closing of CAD$ 400 million notes of CNH Industrial Capital Canada Ltd.
August 11 2023 - 04:30PM
Basildon, August 11, 2023
CNH Industrial N.V. (NYSE: CNHI / MI: CNHI)
today announced that its indirect wholly owned subsidiary, CNH
Industrial Capital Canada Ltd., has completed its previously
announced private placement offering of CAD$ 400 million in
aggregate principal amount of 5.50% notes due August 11, 2026, with
an issue price of 99.883%. The notes were offered in a private
placement to certain accredited investors in each of the provinces
of Canada.
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 February 11 and August 11 of each year,
beginning on February 11, 2024, 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.
CNH Industrial Capital LLC is
an indirect wholly owned subsidiary of CNH Industrial N.V. and is
headquartered in Racine, Wisconsin. As a captive finance company,
the primary business of CNH Industrial Capital LLC and its
subsidiaries is to underwrite and manage financing products for
end-use customers and dealers of CNH Industrial America LLC and CNH
Industrial Canada Ltd. (collectively, “CNH Industrial North
America”) and provide other related financial products and services
to support the sale of agricultural and construction equipment sold
by CNH Industrial North America. CNH Industrial Capital LLC and its
subsidiaries also provide wholesale and retail financing related to
new and used agricultural and construction equipment manufactured
by entities other than CNH Industrial North America. CNH Industrial
Capital LLC’s principal executive offices are located at 5729
Washington Avenue, Racine, WI 53406, and the telephone number is
+1(262) 636-6011.
Contacts:
Media RelationsEmail:
mediarelations@cnhind.com
Investor RelationsEmail:
investor.relations@cnhind.com
- 20230811_PR_CNH_Industrial_Canada_Capital_Bond_Closing
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