Press release
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may 24, 2021 - 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 1.450% notes due 2026, with an issue price of 99.208%.
The net proceeds of this offering were approximately $592 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 CNH Industrial 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 15 and July 15 of each year, beginning on January 15, 2022, 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 15, 2026.
Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, Mizuho Securities USA LLC and Wells Fargo Securities, LLC 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., Intesa Sanpaolo S.p.A. and NatWest Markets Securities Inc. 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 15, 2019. Copies of the prospectus supplement and accompanying prospectus for the offering may be obtained by contacting Deutsche Bank Securities Inc., 60 Wall Street, New York, NY 10005, Attn: Prospectus Group, Telephone: (800) 503-4611, Email: prospectus.CPDG@db.com; Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, Telephone: (866) 471-2526, Fax: (212) 902-9316, Email: prospectus-ny@ny.email.gs.com; Mizuho Securities USA LLC, 1271 Avenue of the Americas, New York, NY 10020, Attn: Debt Capital Markets, Fax: (212) 205-7812; or Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, Attn: WFS Customer Service, Telephone: (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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