CNH Industrial to Raise Funds With $500 Million in New Notes
September 12 2023 - 01:41AM
Dow Jones News
By David Sachs
CNH Industrial said late Monday that its subsidiary, CNH
Industrial Capital, will raise funds with an offering of new notes
worth $500 million.
The Italian agricultural equipment company said the debt
offering, made through the North American arm of its financial
services business, is expected to close on Sept. 13. The company
will use the proceeds for general purposes, including the purchase
of receivables and other assets, it said. The capital also might be
applied to repay the subsidiary's debt as it comes due, CNH
said.
The notes will be guaranteed by CNH Industrial Capital America
and New Holland Credit Company, both wholly owned subsidiaries, the
company said.
Write to David Sachs at david.sachs@wsj.com
(END) Dow Jones Newswires
September 12, 2023 01:26 ET (05:26 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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