Press release
205KB
july 03, 2020 - CNH Industrial
Closing of $600 million notes of CNH Industrial Capital LLC
CNH Industrial N.V. (NYSE: CNHI / MI: CNHI) today announced that its wholly owned subsidiary, #cnhindustrial Capital LLC, has completed its previously announced offering of $600 million in aggregate principal amount of 1.950% notes due 2023, with an issue price of 99.370%.
The net proceeds of this offering were approximately $593 million after payment of offering and other related expenses. #cnhindustrial 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 #cnhindustrial Capital LLC’s indebtedness as it becomes due.
The notes, which are senior unsecured obligations of #cnhindustrial Capital LLC, will pay interest semi-annually on January 2 and July 2 of each year, beginning on January 2, 2021, and will be guaranteed by #cnhindustrial Capital America LLC and New Holland Credit Company, LLC, each a wholly owned subsidiary of #cnhindustrial Capital LLC. The notes will mature on July 2, 2023.
J.P. Morgan Securities LLC, NatWest Markets Securities Inc., Société Générale and Wells Fargo Securities, LLC acted as joint book-running managers and the representatives of the underwriters for the offering, and Banca IMI S.p.A., Credit Agricole Securities (USA) Inc. and UniCredit Capital Markets LLC acted 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 15, 2019. Copies of the prospectus supplement and prospectus for the offering may be obtained by contacting J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Telephone: 1-866-803-9204; NatWest Markets Securities Inc., 600 Washington Boulevard, Stamford, CT 06901, Attn: NatWest Markets Syndicate Desk, Telephone: 1-203-897-6166, Email: SyndicateAmericas@natwestmarkets.com; Société Générale, 245 Park Avenue, New York, NY 10167, Attn: Syndicate Desk GLBA/SYN/CAP/BND, Telephone: 1-855-881-2108, Email: LON-GLFI-SYN-CAP@sgcib.com; or Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, Attn: WFS Customer Service, Telephone: 1-800-645-3751, Email: wfscustomerservice@wellsfargo.com. 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.
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