Pricing of CNH Industrial Capital LLC $500 million notes
CNH Industrial N.V. (NYSE: CNH) announced that its subsidiary, CNH Industrial Capital , has priced $500 million in 4.500% notes due 2027, with an issue price of 99.809%. The offering is expected to close on October 9, 2024. The notes will pay interest semi-annually and mature on October 8, 2027. They are guaranteed by CNH Industrial Capital America and New Holland Credit Company,
The net proceeds will be used for working capital, general corporate purposes, and potentially repaying indebtedness. Several financial institutions are acting as joint book-running managers for the offering. The offering is made pursuant to an effective shelf registration statement filed with the SEC on March 14, 2022.
CNH Industrial Capital , headquartered in Racine, Wisconsin, is a captive finance company primarily supporting CNH Industrial North America's agricultural and construction equipment sales through various financing products and services.
CNH Industrial N.V. (NYSE: CNH) ha annunciato che la sua controllata, CNH Industrial Capital, ha emesso note da 500 milioni di dollari con un tasso del 4,500% in scadenza nel 2027, con un prezzo di emissione del 99,809%. L’offerta è prevista per chiudere il 9 ottobre 2024. Le note pagheranno interesse semestralmente e scadranno l'8 ottobre 2027. Sono garantite da CNH Industrial Capital America e New Holland Credit Company.
Il ricavato netto sarà utilizzato per capitale di lavorazione, scopi aziendali generali e potenzialmente per ripagare debitorie. Diverse istituzioni finanziarie stanno agendo come co-gestori dell’offerta. L’offerta è effettuata in base a una dichiarazione di registrazione a scaffale efficace depositata presso la SEC il 14 marzo 2022.
CNH Industrial Capital, con sede a Racine, Wisconsin, è una società di finanziamento captive che supporta principalmente le vendite di attrezzature agricole e per costruzione di CNH Industrial North America attraverso vari prodotti e servizi di finanziamento.
CNH Industrial N.V. (NYSE: CNH) anunció que su subsidiaria, CNH Industrial Capital, ha emitido 500 millones de dólares en notas con un interés del 4,500% que vencen en 2027, con un precio de emisión de 99.809%. Se espera que la oferta se cierre el 9 de octubre de 2024. Las notas pagarán intereses semestralmente y vencerán el 8 de octubre de 2027. Están garantizadas por CNH Industrial Capital America y New Holland Credit Company.
Los ingresos netos se utilizarán para capital de trabajo, propósitos corporativos generales y potencialmente para el pago de deudas. Varias instituciones financieras actúan como gerentes de libro conjunto para la oferta. La oferta se realiza de acuerdo con una declaración de registro de estante efectiva presentada ante la SEC el 14 de marzo de 2022.
CNH Industrial Capital, con sede en Racine, Wisconsin, es una compañía de financiamiento cautivo que apoya principalmente las ventas de equipos agrícolas y de construcción de CNH Industrial North America a través de varios productos y servicios de financiamiento.
CNH Industrial N.V. (NYSE: CNH)는 자회사인 CNH Industrial Capital이 2027년 만기 4.500% 노트 5억 달러 발행했다고 발표하였으며, 발행가는 99.809%입니다. 이 공모는 2024년 10월 9일에 마감될 예정입니다. 노트는 반기마다 이자를 지급하며 2027년 10월 8일에 만기됩니다. 이들은 CNH Industrial Capital America와 New Holland Credit Company에 의해 보장됩니다.
순수익은 운전자본, 일반 기업 목적 및 채무 상환 가능성을 위해 사용될 예정입니다. 여러 금융 기관이 이번 공모를 위한 공동 북펀딩 매니저로 활동하고 있습니다. 이 공모는 2022년 3월 14일 SEC에 제출된 유효한 선등록 서신에 따라 이루어집니다.
CNH Industrial Capital은 위스콘신주 라신에 본사를 두고 있으며, CNH Industrial North America의 농업 및 건설 장비 판매를 위해 다양한 금융 상품 및 서비스를 통해 지원하는 전담 금융 회사입니다.
CNH Industrial N.V. (NYSE: CNH) a annoncé que sa filiale, CNH Industrial Capital, a émis 500 millions de dollars d'obligations à 4,500% arrivant à échéance en 2027, avec un prix d'émission de 99,809%. L'offre devrait se clôturer le 9 octobre 2024. Les obligations verseront des intérêts semestriellement et arriveront à échéance le 8 octobre 2027. Elles sont garanties par CNH Industrial Capital America et New Holland Credit Company.
Le produit net sera utilisé pour le fonds de roulement, des fins corporatives générales et éventuellement le remboursement de dettes. Plusieurs institutions financières agissent en tant que co-directeurs de livre pour l'offre. Cette émission est réalisée en vertu d'une déclaration d'enregistrement de shelf effective déposée auprès de la SEC le 14 mars 2022.
CNH Industrial Capital, dont le siège est à Racine, dans le Wisconsin, est une société de financement captive soutenant principalement les ventes d'équipements agricoles et de construction de CNH Industrial North America via divers produits et services financiers.
CNH Industrial N.V. (NYSE: CNH) gab bekannt, dass ihre Tochtergesellschaft, CNH Industrial Capital, 500 Millionen Dollar an 4,500% Anleihen mit Fälligkeit 2027 begeben hat, mit einem Emissionspreis von 99,809%. Die Emission soll am 9. Oktober 2024 abgeschlossen werden. Die Anleihen zahlen halbjährlich Zinsen und fallen am 8. Oktober 2027 fällig. Sie werden von CNH Industrial Capital America und New Holland Credit Company garantiert.
Der Nettoerlös wird verwendet für Betriebs- und allgemeine Unternehmenszwecke und möglicherweise zur Abdeckung von Verbindlichkeiten. Mehrere Finanzinstitute fungieren als Co-Book-Running-Manager für das Angebot. Das Angebot erfolgt gemäß einer effektiven Shelf-Registrationserklärung, die am 14. März 2022 bei der SEC eingereicht wurde.
CNH Industrial Capital hat seinen Hauptsitz in Racine, Wisconsin, und ist ein captive Finanzunternehmen, das hauptsächlich die Vertriebsaktivitäten von CNH Industrial North America im Bereich landwirtschaftlicher und Baumaschinen durch verschiedene Finanzierungsprodukte und -dienstleistungen unterstützt.
- Successful pricing of $500 million in notes, indicating strong market demand
- Potential to strengthen working capital and improve financial flexibility
- Opportunity to refinance existing debt at potentially favorable terms
- Increase in long-term debt obligations
- Additional interest expenses may impact future profitability
Insights
CNH Industrial Capital 's pricing of
The notes' investment-grade status, backed by guarantees from two wholly-owned subsidiaries, enhances their appeal to institutional investors. This could lead to lower borrowing costs for future debt issuances. The semi-annual interest payments and 3-year maturity offer a balanced approach to debt management.
For investors, this move indicates CNH Industrial's proactive approach to capital management and its ability to access debt markets on favorable terms. It also suggests potential growth in the company's financing operations, which could positively impact overall financial performance in the agricultural and construction equipment sectors.
This debt offering by CNH Industrial Capital is strategically timed and structured. The
The use of proceeds for "working capital and other general corporate purposes" provides financial flexibility, potentially allowing CNH to capitalize on market opportunities or weather economic uncertainties. The option to repay existing debt also suggests prudent liability management.
For the broader market, this successful offering may signal continued appetite for corporate debt, especially from companies with strong ties to the real economy. It could encourage other firms in the industrial and financial sectors to tap the bond markets, potentially leading to increased corporate activity and liquidity in the debt markets.
Basildon, October 7, 2024
CNH Industrial N.V. (NYSE:t CNH) today announced that its wholly owned subsidiary, CNH Industrial Capital LLC, has priced
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 April 8 and October 8 of each year, beginning on April 8, 2025, 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 October 8, 2027.
Barclays Capital Inc., Goldman Sachs & Co. LLC, Santander US Capital Markets LLC and SG Americas Securities, LLC are acting as joint book-running managers and the representatives of the underwriters for the offering, and BBVA Securities Inc., SMBC Nikko Securities America, Inc., Intesa Sanpaolo IMI Securities Corp. and UniCredit Capital Markets LLC are acting as joint book-running managers for the offering. The offering is being made pursuant to an effective shelf registration statement filed with the U.S. Securities and Exchange Commission on March 14, 2022. Copies of the prospectus supplement and the accompanying prospectus for the offering may be obtained by contacting Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Telephone: 1-888-603-5847, Email: barclaysprospectus@broadridge.com; Goldman Sachs & Co. LLC, 200 West Street, New York, NY 10282, Attn: Prospectus Department, Telephone: 1-866-471-2526, Email: prospectus-ny@ny.email.gs.com; Santander US Capital Markets LLC, 437 Madison Avenue, New York, NY 10022, Telephone: 1-855-403-3636, Email: DCMAmericas@santander.us; or SG Americas Securities, LLC, 245 Park Avenue, New York, NY 10167. 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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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.
CNH Industrial Capital LLC is an indirect wholly owned subsidiary of CNH Industrial N.V. and is headquartered in Racine, Wisconsin. As a captive finance company, the primary business of CNH Industrial Capital LLC and its subsidiaries is to underwrite and manage financing products for end-use customers and dealers of CNH Industrial America LLC and CNH Industrial Canada Ltd. (collectively, “CNH Industrial North America”) and provide other related financial products and services to support the sale of agricultural and construction equipment sold by CNH Industrial North America. CNH Industrial Capital LLC and its subsidiaries also provide wholesale and retail financing related to new and used agricultural and construction equipment manufactured by entities other than CNH Industrial North America. CNH Industrial Capital LLC’s principal executive offices are located at 5729 Washington Avenue, Racine, WI 53406, and the telephone number is +1(262) 636-6011.
Contacts:
Media Relations
Email: mediarelations@cnh.com
Investor Relations
Email: investor.relations@cnh.com
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FAQ
What is the interest rate and maturity date for CNH Industrial Capital 's new notes?
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