CNH Industrial Capital prices $500M note offering
Notes set to close on Sept. 29, mature on Oct. 16, 2030
CNH Industrial announced that its financing unit, CNH Industrial Capital, has priced $500 million of 4.5% senior unsecured notes due 2030.
The securities were priced at 99.765% of par and are scheduled to close Sept. 29, subject to customary conditions, according to a Sept. 25 CNH release. The notes will pay interest semiannually beginning April 16, 2026, and mature on Oct. 16, 2030.
CNH plans for proceeds to be added to general funds and used for working capital and other corporate purposes, including the purchase of receivables and other assets in the normal course of business, according to the release. Proceeds may also be applied toward repaying outstanding debt as it comes due, and the notes will be guaranteed by CNH Industrial Capital America and New Holland Credit Company, both wholly owned subsidiaries.
Citigroup, Mizuho Securities, RBC Capital Markets and Wells Fargo Securities are acting as joint book-running managers for the offering, with BNP Paribas, Credit Agricole, Santander US Capital Markets and SMBC Nikko also serving as joint book-runners, according to the release. The deal is being offered under an effective shelf registration statement filed with the SEC in March.
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