CNH Industrial have announced that its wholly owned subsidiary, CNH Industrial Capital LLC, have completed its previously announced offering of $600m 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 $593m after payment of offering and other related expenses.
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 January 2 and July 2 of each year, beginning on January 2, 2021, 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 July 2, 2023.