CNH Industrial announced that the wholly owned subsidiary CNH Industrial Capital LLC has completed the previously announced offer of a $ 600 million bond with a coupon of 1.450%, maturity in 2026 and an issue price of 99.208%. . Net proceeds from the offering are approximately $ 592 million, net of offering fees and costs.
CNH Industrial Capital LLC intends to use the net proceeds of the offering, in addition to its general liquidity, for working capital needs and general business needs including, inter alia, the purchase of receivables or other assets in the normal course of business. The net proceeds may also be used to repay other debt of CNH Industrial Capital LLC at maturity.
CNH Industrial Capital LLC’s senior unsecured securities will pay interest semiannually on January 15 and July 15 of each year starting on January 15, 2022 and will be guaranteed by CNH Industrial Capital America LLC and New Holland Credit Company, LLC, both wholly owned by CNH Industrial Capital LLC. The securities will expire on July 15, 2026.