CNH INDUSTRIAL N.V. ANNOUNCES THE CLOSING OF ITS NOTES OFFERING OF $500 MILLION 3.850% NOTES DUE 2027
London, November 14, 2017
CNH Industrial N.V. (NYSE: CNHI / MI: CNHI) today announced that it has completed its previously announced offering of $500 million in aggregate principal amount of 3.850% notes due 2027, with an issue price of 99.384%.
The net proceeds of the offering were approximately $494 million after payment of offering and related expenses. CNH Industrial N.V. intends to use the net proceeds from this offering for working capital and other general corporate purposes.
The notes, which are senior unsecured obligations of CNH Industrial N.V., will pay interest semi-annually on May 15 and November 15 of each year, beginning on May 15, 2018. The notes will mature on November 15, 2027. CNH Industrial N.V. will apply to list the notes on the New York Stock Exchange.
BofA Merrill Lynch, J.P. Morgan and Wells Fargo Securities acted as the joint book-running managers and underwriters 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 the accompanying prospectus for the offering may be obtained by contacting BofA Merrill Lynch at 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attn: Prospectus Department, toll-free at 1-800-294- 1322 or at email@example.com; J.P. Morgan Securities LLC at 383 Madison Avenue, New York, NY, 10179, Attn: Investment Grade Syndicate Desk, 3rd Floor, or by telephone at (212) 834-4533; or Wells Fargo Securities, LLC at 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, Attn: WFS Customer Service, toll-free at (800) 645-3751 or at firstname.lastname@example.org. 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.
This press release contains forward-looking statements. These statements reflect current beliefs, as well as assumptions made by, and information available to, the entities referred to in this press release. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties. Actual future results and developments could differ materially from those set forth in these statements due to various factors. These factors include, among others, changes in the general economic and competitive situation, particularly in the CNH Industrial group's businesses and markets. In addition, future results and developments could be affected by the performance of financial markets, fluctuations in exchange rates and changes in national and supranational law. CNH Industrial does not undertake any obligation to update forward-looking statements.