Pricing of CNH Industrial Capital LLC $500 million notes
September 11 2023 - 05:00PM
Basildon, September 11, 2023
CNH Industrial N.V. (NYSE: CNHI / MI: CNHI)
today announced that its wholly owned subsidiary, CNH Industrial
Capital LLC, has priced $500 million in aggregate principal amount
of 5.500% notes due 2029, with an issue price of 99.399%. The
offering is expected to close on September 13, 2023, subject to the
satisfaction of customary closing conditions.
CNH Industrial Capital LLC 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 LLC’s indebtedness
as it becomes due.
The notes, which are senior unsecured
obligations of CNH Industrial Capital LLC, will pay interest
semi-annually on January 12 and July 12 of each year, beginning on
January 12, 2024, and will be guaranteed by CNH Industrial Capital
America LLC and New Holland Credit Company, LLC, each a wholly
owned subsidiary of CNH Industrial Capital LLC. The notes will
mature on January 12, 2029.
RBC Capital Markets, LLC, J.P. Morgan Securities
LLC, Santander US Capital Markets LLC and Wells Fargo Securities,
LLC are acting as joint book-running managers and the
representatives of the underwriters for the offering, and Intesa
Sanpaolo IMI Securities Corp., NatWest Markets Securities Inc., SG
America Securities, LLC and UniCredit Capital Markets LLC are
acting as joint book-running managers for the offering. The
offering is being made pursuant to an effective shelf registration
statement filed with the U.S. Securities and Exchange Commission on
March 14, 2022. Copies of the prospectus supplement and the
accompanying prospectus for the offering may be obtained by
contacting RBC Capital Markets, LLC, Attn: Syndicate Operations,
200 Vesey Street, 8th Floor, New York, NY 10281, Telephone:
1-866-375-6829, Email: rbcnyfixedincomeprospectus@rbccm.com; J.P.
Morgan Securities LLC, c/o Broadridge Financial Solutions, Attn:
Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717,
Telephone: 1-866-803-9204; Santander US Capital Markets LLC, 437
Madison Avenue, 10th floor, New York, NY 10022, Telephone:
1-855-403-3636, Email: DCMAmericas@santander.us; or Wells Fargo
Securities, LLC, 608 2nd Avenue South, Suite 1000, Minneapolis, MN
55402, Attn: WFS Customer Service, Email:
wfscustomerservice@wellsfargo.com, Toll-Free: 1-800-645-3751.
Copies of the prospectus supplement and the accompanying prospectus
for the offering are also available on the website of the U.S.
Securities and Exchange Commission at http://www.sec.gov.
***
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.
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
- 20230911_PR_CNH_Industrial_Capital_Pricing
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