Closing of $500 million notes of CNH Industrial Capital LLC
Basildon, September 13, 2023
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 $500 million in aggregate principal amount of 5.500% notes due 2029, with an issue price of 99.399%.
The net proceeds of this offering were approximately $493 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 January 12 and July 12 of each year, beginning on January 12, 2024, 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 January 12, 2029.
RBC Capital Markets, LLC, J.P. Morgan Securities LLC, Santander US Capital Markets LLC and Wells Fargo Securities, LLC are acting as joint book-running managers and the representatives of the underwriters for the offering, and Intesa Sanpaolo IMI Securities Corp., NatWest Markets Securities Inc., SG Americas Securities, LLC and UniCredit Capital Markets 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 RBC Capital Markets, LLC, Attn: Syndicate Operations, 200 Vesey Street, 8th Floor, New York, NY 10281, Telephone: 1-866- 375-6829, Email: email@example.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; Santander US Capital Markets LLC, 437 Madison Avenue, 10th floor, New York, NY 10022, Telephone: 1-855-403-3636, Email: DCMAmericas@santander.us; or Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, Attn: WFS Customer Service, Email: firstname.lastname@example.org, Toll-Free: 1- 800-645-3751. 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.