CNH Industrial Capital prices $500M bond offering due 2031
CNH will use proceeds for working capital
CNH Industrial Capital, the financing arm of heavy-equipment manufacturer CNH Industrial, has priced $500 million in senior unsecured notes due 2031.
The notes carry an interest rate of 4.375%, with an issue price of 99.086%, according to a Jan. 6 CNH release. The offering is expected to close Jan. 8, subject to customary closing conditions.
CNH Industrial Capital plans to use the net proceeds for general purposes, including working capital, purchases of receivables or other assets, and the repayment of indebtedness as it becomes due.
Interest on the notes will be paid semiannually beginning March 7, 2026. The notes will mature March 7, 2031, and are guaranteed by CNH Industrial Capital America and New Holland Credit Company.
Barclays, BNP Paribas, Citigroup and SG Americas Securities are serving as joint book-running managers and underwriter representatives, according to the release.
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