CNH Industrial N.V. (NYSE: CNHI) today announced that its wholly owned subsidiary, CNH Industrial Capital LLC, has priced $600 million in aggregate principal amount of 5.100% notes due 2029, with an issue price of 99.157%. The offering is expected to close on March 21, 2024, subject to the satisfaction of customary closing conditions.
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 20 and October 20 of each year, beginning on October 20, 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 April 20, 2029.
BofA Securities, Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and MUFG Securities Americas Inc. are acting as joint book-running managers and the representatives of the underwriters for the offering, and BBVA Securities Inc., Credit Agricole Securities (USA) Inc., Rabo Securities USA, Inc. and Wells Fargo Securities, LLC are acting as joint book-running managers for the offering. The offering is being 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 the accompanying prospectus for the offering may be obtained by contacting BofA Securities, Inc., NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, Attn: Prospectus Department, Telephone: 1-800-294-1322, Email: dg.prospectus_requests@bofa.com; Citigroup Global Markets Inc., Attn: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Telephone: 1-800-831-9146, Email: prospectus@citi.com; Deutsche Bank Securities Inc., Attn: Prospectus Group, 1 Columbus Circle, New York, NY 10019, Telephone: 1-800-503-4611, Email: prospectus-CPDB@db.com; or MUFG Securities Americas Inc., Attn: Capital Markets Group, 1221 Avenue of the Americas, 6th Floor, New York, New York 10020, Telephone: 1-877-649-6848. 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.
Basildon, March 19, 2024