CNH Industrial Capital prices $1.1B in US, Canadian notes
Notes due in 2031, 2030 respectively
CNH Industrial subsidiaries priced more than $1 billion in notes this week to support working capital, receivables purchases and debt repayment across the captive finance business, according to two company releases.
CNH Industrial Capital priced $600 million in 4.95% senior unsecured notes due June 25, 2031, the company announced on June 22. The notes were issued at 99.62% and are expected to close June 25, subject to customary conditions.
The U.S. notes will pay interest semiannually on June 25 and Dec. 25, beginning Dec. 25, 2026, according to the release. Rasine, Wisc.-based CNH Industrial Capital America and New Holland, Pa.-based New Holland Credit, both wholly owned U.S. finance subsidiaries of CNH Industrial Capital, guaranteed the notes.
CNH also announced in a June 25 release that CNH Industrial Capital Canada priced CA$450 million ($512.5 million) in 3.80% senior unsecured notes due Jan. 22, 2030. The Canadian notes landed at 99.872% in a private placement to accredited investors in Canada, with an expected close date of June 29.
The Canadian notes will pay interest semiannually on Jan. 22 and July 22, beginning Jan. 22, 2027, according to the release. CNH Industrial Capital, CNH Industrial Capital America and New Holland Credit also guaranteed those notes.
CNH Industrial Capital, based in Waterford, Wis., provides wholesale and retail financing for agricultural and construction equipment sold by CNH Industrial North America and other manufacturers.
