CNH Industrial announces subsidiary notes offering
CNH Industrial N.V. (NYSE: CNHI) announced that its subsidiary, CNH Industrial Capital Canada Ltd., plans a private placement of new notes for accredited investors in Canada, subject to market conditions. The notes will be guaranteed by several wholly-owned subsidiaries of CNH Industrial. Proceeds will be allocated for working capital and corporate purposes, including asset acquisitions and debt repayment. The securities are exempt from public sale qualifications in Canada and are not registered under the Securities Act, hence cannot be offered in the U.S. without registration.
- Planned private placement of new notes indicates potential for increased liquidity.
- Proceeds intended for working capital and corporate purposes may strengthen financial stability.
- Offering limited to accredited investors could restrict broader access to capital.
- Securities not registered under the Securities Act may limit the market for future offerings.
London, September 23, 2021
CNH Industrial N.V. (NYSE: CNHI / MI: CNHI) today announced that its indirect wholly owned subsidiary, CNH Industrial Capital Canada Ltd., plans to offer new notes in a private placement to certain accredited investors in each of the provinces of Canada, subject to market conditions. The notes 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. CNH Industrial Capital Canada Ltd. is the primary financing and business entity in Canada for CNH Industrial Capital LLC, the North American arm of CNH Industrial’s global financial services business.
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. The net proceeds may also be applied to repay CNH Industrial Capital Canada Ltd.’s indebtedness as it becomes due.
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The securities offered in the private placement have not been and will not be qualified for sale to the public under applicable securities laws in Canada and, accordingly, any offer and sale of the securities in Canada will be made on a basis which is exempt from the prospectus requirements of such securities laws.
The securities offered in the private placement have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or applicable state securities laws. Accordingly, the securities may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of these securities, nor shall there be any sale of these securities, in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.
Contacts:
Corporate Communications
Email: mediarelations@cnhind.com
Investor Relations
Email: investor.relations@cnhind.com
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FAQ
What is CNHI's recent announcement regarding private placement?
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Who guarantees the new notes being offered by CNH Industrial Capital Canada Ltd.?
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Are the new notes registered under the Securities Act?
