Closing of $400 million notes of CNH Industrial Capital LLC
14 Oktober 2022 - 10:30PM
Closing of $400 million notes of CNH Industrial Capital LLC
London, October 14, 2022CNH Industrial N.V.
(NYSE: CNHI / MI: CNHI) today announced that its wholly owned
subsidiary, CNH Industrial Capital LLC, has completed its
previously announced offering of $400 million in aggregate
principal amount of 5.450% notes due 2025, with an issue price of
99.349%.
The net proceeds of this offering were
approximately $395 million after payment of offering and other
related expenses. 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 14 and October 14 of each year, beginning on
April 14, 2023, 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 14, 2025.
BofA Securities, Inc., J.P. Morgan Securities
LLC, Morgan Stanley & Co. LLC and RBC Capital Markets, LLC are
acting as joint book-running managers and the representatives of
the underwriters for the offering, and BNP Paribas Securities
Corp., CIBC World Markets Corp. and Wells Fargo Securities, LLC are
acting as joint book-running managers for the offering. The
offering was 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
accompanying prospectus for the offering may be obtained by
contacting BofA Securities, Inc., Attn: Prospectus Department, 200
North College Street, NC1-004-03-43, Charlotte, NC 28255-0001,
Telephone: 1-800-294-1322, Email:dg.prospectus_requests@bofa.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; Morgan Stanley & Co. LLC, 180
Varick Street, New York, NY 10014, Attn: Prospectus Department,
Telephone: 1-866-718-1649, Email: prospectus@morganstanley.com; or
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. 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
- 20221014_PR_CNH_Industrial_Subsidiary_Notes_Closing
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