CNH Industrial Capital LLC Announces $500 Million Notes Pricing
CNH Industrial Capital LLC's Recent Pricing Announcement
In a significant move aiming at bolstering its financial standing, CNH Industrial N.V. (NYSE: CNHI) announced that its subsidiary, CNH Industrial Capital LLC, has successfully priced $500 million in notes. These notes carry an interest rate of 4.500% and are set to mature in 2027. The pricing, set at 99.809%, reflects CNH's strong market position and investor confidence.
Purpose of the Fundraising
The funds raised through this note issuance will primarily be allocated toward general corporate purposes. CNH Industrial Capital LLC plans to enhance its working capital and support transactions in the ordinary course of business, including the purchase of receivables and other assets. Moreover, these proceeds may also be utilized to repay outstanding debts as they come due, strengthening the company's balance sheet.
Interest Payment Schedule and Guarantees
Investors can expect semi-annual interest payments, which will commence on April 8, 2025. The notes are senior unsecured obligations and will be backed by guarantees from CNH Industrial Capital America LLC and New Holland Credit Company, LLC, both of which are wholly owned subsidiaries of CNH Industrial Capital LLC.
Key Underwriters and Their Roles
A notable roster of financial institutions is involved in the offering. Barclays Capital Inc., Goldman Sachs & Co. LLC, Santander US Capital Markets LLC, and SG Americas Securities, LLC serve as the joint book-running managers, bringing diverse expertise to the offering. They are complemented by other financial firms which will also manage the book-running process, ensuring a streamlined and professional execution of this bond offering.
Compliance and Regulatory Considerations
The offering is compliant with an effective shelf registration statement previously filed with the U.S. Securities and Exchange Commission, maintaining transparency and regulatory adherence. Prospective investors can obtain detailed information regarding the securities through the SEC’s official channels, ensuring they have access to all necessary documentation.
Company Overview and Financial Strategy
CNH Industrial Capital LLC operates as an indirect wholly owned subsidiary of CNH Industrial N.V., with its headquarters located in Racine, Wisconsin. As a captive finance company, CNH Industrial Capital LLC specializes in underwriting financial products to support customers and dealers of CNH Industrial North America. This includes providing tailored financing solutions for agricultural and construction equipment.
Additionally, the company extends its services to offer wholesale and retail financing for both new and used equipment, irrespective of the manufacturer. This broad approach allows CNH Industrial Capital LLC to cater to a wide array of customer needs in the equipment finance market, reinforcing its position in the industry.
Company Contact Information
CNH Industrial Capital LLC is committed to maintaining open channels for communication with stakeholders. Interested parties can reach the company through their executive offices located at 5729 Washington Avenue, Racine, WI 53406. For inquiries, the telephone number to contact is +1(262) 636-6011.
Frequently Asked Questions
What are the terms of the newly priced notes?
The notes are priced at a 4.500% interest rate and are due in 2027 with interest payments starting in April 2025.
How will CNH Industrial Capital LLC use the proceeds?
The proceeds will be used for general corporate purposes, including working capital and repaying debts.
Who are the underwriters for the offering?
Major underwriters include Barclays Capital Inc., Goldman Sachs & Co. LLC, Santander US Capital Markets LLC, and SG Americas Securities, LLC.
Where can I find more information on the offering?
More information can be found in the prospectus supplement available through the U.S. Securities and Exchange Commission.
What is the role of CNH Industrial Capital LLC?
CNH Industrial Capital LLC provides financial products and services to customers of CNH Industrial, specifically for agricultural and construction machinery financing.
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