Pricing of CNH Industrial Capital LLC $500 million notes
October 07 2024 - 4:30PM
Basildon, October 7, 2024
CNH Industrial N.V. (NYSE:t CNH) today announced
that its wholly owned subsidiary, CNH Industrial Capital LLC, has
priced $500 million in aggregate principal amount of 4.500% notes
due 2027, with an issue price of 99.809%. The offering is expected
to close on October 9, 2024, 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 April 8 and October 8 of each year, beginning on
April 8, 2025, 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 October 8, 2027.
Barclays Capital Inc., Goldman Sachs & Co.
LLC, Santander US Capital Markets LLC and SG Americas Securities,
LLC are acting as joint book-running managers and the
representatives of the underwriters for the offering, and BBVA
Securities Inc., SMBC Nikko Securities America, Inc., Intesa
Sanpaolo IMI Securities Corp. 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 Barclays Capital Inc., c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Telephone:
1-888-603-5847, Email: barclaysprospectus@broadridge.com; Goldman
Sachs & Co. LLC, 200 West Street, New York, NY 10282, Attn:
Prospectus Department, Telephone: 1-866-471-2526, Email:
prospectus-ny@ny.email.gs.com; Santander US Capital Markets LLC,
437 Madison Avenue, New York, NY 10022, Telephone: 1-855-403-3636,
Email: DCMAmericas@santander.us; or SG Americas Securities, LLC,
245 Park Avenue, New York, NY 10167. 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@cnh.com
Investor RelationsEmail:
investor.relations@cnh.com
- 20241007_PR_CNH_Industrial_Capital_Pricing
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