CLOSING OF $400 MILLION NOTES OF CNH INDUSTRIAL CAPITAL LLC
London, October 21, 2016
CNH 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 3.875% notes due 2021, issued at an issue price of 99.441%.
The net proceeds of this offering were approximately $394 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 15 and October 15 of each year, beginning on April 15, 2017, and are 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 15, 2021.
Barclays Capital Inc., Goldman, Sachs & Co. and RBC Capital Markets, LLC acted as joint bookrunning managers and the representatives of the underwriters for the offering, and BBVA Securities Inc. and Natixis Securities Americas LLC acted 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 September 11, 2015. Copies of the prospectus supplement and prospectus for the offering may be obtained by contacting Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Email: firstname.lastname@example.org, Telephone: +1(888) 603-5847; Goldman, Sachs & Co., Prospectus Department, 200 West Street, New York, NY 10282, Telephone: +1(866) 471-2526, Fax: +1(212) 902-9316, Email: email@example.com; or RBC Capital Markets, LLC, Three World Financial Center, 200 Vesey Street, 8th Floor, New York, NY 10281, Telephone: +1(866) 375-6829, Fax: +1(212) 658-6137, Email: firstname.lastname@example.org , ATTN: Transaction Management. Copies of the prospectus supplement and 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.