NEW YORK - CNH Industrial (NYSE:CNHI) Capital LLC, a subsidiary of CNH Industrial N.V. (NYSE: CNHI), has priced $600 million of senior unsecured notes with a 5.100% interest rate, due to mature on April 20, 2029. The notes were priced at 99.157% and are expected to close on March 21, 2024, subject to customary closing conditions.
The net proceeds from the offering will be added to the company's general funds and are intended for use in working capital and other general corporate purposes. This includes the potential purchase of receivables or other assets in the ordinary course of business and the repayment of CNH Industrial Capital LLC’s maturing indebtedness.
Interest on the notes will be paid semi-annually on April 20 and October 20, starting from October 20, 2024. The notes are guaranteed by CNH Industrial Capital America LLC and New Holland Credit Company, LLC, both wholly owned subsidiaries of CNH Industrial Capital LLC.
Joint book-running managers for the offering include BofA Securities, Inc., Citigroup Global Markets Inc., Deutsche Bank (ETR:DBKGn) Securities Inc., and MUFG Securities Americas Inc., with additional joint book-running managers BBVA (BME:BBVA) Securities Inc., Credit Agricole (OTC:CRARY) Securities (USA) Inc., Rabo Securities USA, Inc., and Wells Fargo (NYSE:WFC) Securities, LLC.
The offering is made under an effective shelf registration statement filed with the U.S. Securities and Exchange Commission on March 14, 2022. Interested parties may obtain copies of the prospectus supplement and accompanying prospectus through the representatives of the underwriters.
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