CNH INDUSTRIAL AND CNH INDUSTRIAL FINANCE EUROPE S.A. ANNOUNCE INDICATIVE RESULTS OF THE CASH TENDER OFFERS
London, December 6, 2019
CNH Industrial N.V. (NYSE: CNHI /MI: CNHI ) (CNH Industrial or the Guarantor) together with its subsidiary CNH Industrial Finance Europe S.A., a public limited liability company (société anonyme) incorporated and existing under the laws of the Grand Duchy of Luxembourg, having its registered office at 24, boulevard Royal, L-2449 Luxembourg, Grand Duchy of Luxembourg and registered with the Luxembourg Register of Commerce and Companies under number B-155849 (the Company) hereby announce, on a non-binding basis, the indicative results of the Company’s invitation to eligible holders (subject to the offer restrictions referred to below) of the Company’s outstanding €700,000,000 2.875 per cent. Notes due 27 September 2021 guaranteed by the Guarantor (ISIN: XS1114452060), of which €431,555,000 remain outstanding (the 2021 Notes), €500,000,000 1.375 per cent. Notes due 23 May 2022 guaranteed by the Guarantor (ISIN: XS1616917800) (the 2022 Notes) and €500,000,000 2.875 per cent. Notes due 17 May 2023 guaranteed by the Guarantor (ISIN: XS1412424662) (the 2023 Notes and, together with the 2021 Notes and the 2022 Notes, the Existing Notes) to tender their Existing Notes for purchase by the Company for cash (the Offers and each an Offer).
The Offers were announced on 28 November, 2019 and were made on the terms and subject to the offer and distribution restrictions set out in the tender offer memorandum dated 28 November, 2019 (the Tender Offer Memorandum).
Capitalised terms used in this announcement but not defined have the meanings given to them in the Tender Offer Memorandum.
The Offers expired at 5.00 p.m. CET on 5 December 2019 (the Expiration Deadline). As at the Expiration Deadline, the Company had received valid tenders of €379,562,000 in aggregate nominal amount of Existing Notes for purchase pursuant to the Offers.
The Company hereby announces its non-binding intention to accept for purchase valid tenders of Existing Notes pursuant to the Offers for an indicative aggregate nominal amount of €379,562,000. The Company intends to set the Maximum Acceptance Amount at €379,562,000.
The following table sets out the aggregate nominal amount validly tendered pursuant to the Offers, the indicative Series Acceptance Amount and the indicative Pro-Ration Factor (if any), in each case in relation to the Existing Notes.