Photo courtesy of CNH Industrial N.V.
CNH Industrial N.V. says its wholly owned subsidiary, CNH Industrial Capital LLC, Racine, Wisconsin, has completed a previously announced offering of $500 million worth of 5.5 percent notes due in 2029.
Europe-based CNH says the “net proceeds of this offering were approximately $493 million after payment of offering and other related expenses.”
CNH Industrial Capital LLC intends to add the net proceeds from the offering to its general funds and use them for working capital and other general corporate purposes, including the purchase of receivables or other assets in the ordinary course of business, says the maker of Case and New Holland brand equipment.
Financial firms taking part in the note issuing effort included RBC Capital Markets LLC, J.P. Morgan Securities LLC, Santander US Capital Markets LLC, Wells Fargo Securities LLC, Intesa Sanpaolo IMI Securities Corp., NatWest Markets Securities Inc., SG Americas Securities LLC and UniCredit Capital Markets LLC.
CNH describes the primary business of CNH Industrial Capital LLC and its subsidiaries as “to underwrite and manage financing products for end-use customers and dealers of CNH Industrial America LLC and CNH Industrial Canada Ltd. [and to] provide other related financial products and services to support the sale of agricultural and construction equipment sold by CNH Industrial North America.”
