CNH Industrial subsidiary CNH Capital prices private offering of US$500M in 3.250% notes due 2017; offering expected to close on Oct. 8
BURR RIDGE, Illinois
October 4, 2013
– CNH Industrial N.V. (NYSE: CNHI) (MI: CNHI) today announced that its wholly owned subsidiary, CNH Capital LLC, has priced a private offering of $500 million in aggregate principal amount of 3.250% notes due 2017, issued at par. The offering is expected to close on October 8, 2013.
CNH Capital LLC intends to use the net proceeds from the offering for working capital and other general corporate purposes, including, among other things, the purchase of receivables or other assets. The net proceeds may also be applied to repay CNH Capital LLC's indebtedness as it becomes due.
The notes, which are senior unsecured obligations of CNH Capital LLC, will pay interest semi-annually on February 1 and August 1 of each year, beginning on February 1, 2014, and will be guaranteed by CNH Capital America LLC and New Holland Credit Company, LLC, each a wholly owned subsidiary of CNH Capital LLC. The notes will mature on February 1, 2017.