CNH Industrial N.V. (NYSE: CNHI) today announced that its indirect wholly owned subsidiary, CNH Industrial Capital Canada Ltd., has priced Cdn$400 million in aggregate principal amount of 4.80% notes due March 25, 2027, with an issue price of 99.876%. The notes are being offered on a private placement basis to certain accredited investors in each of the provinces of Canada, which offering is expected to close on March 25, 2024, subject to the satisfaction of customary closing conditions.
CNH Industrial Capital Canada Ltd. 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, as well as the repayment of indebtedness as it becomes due.
The notes, which are senior unsecured obligations of CNH Industrial Capital Canada Ltd., will pay interest semi-annually on March 25 and September 25 of each year, beginning on September 25, 2024, and will be guaranteed by CNH Industrial Capital LLC, CNH Industrial Capital America LLC and New Holland Credit Company, LLC, each an indirect wholly owned subsidiary of CNH Industrial N.V.
Basildon, March 21, 2024