CNH Industrial Capital Canada Prices $298.46MM of 5.5% Notes

CNH Industrial Capital Canada, a wholly-owned subsidiary of CNH Industrial, priced C$400 million ($298.46 million) in aggregate principal amount of 5.5% notes due Aug. 11, 2026, with an issue price of 99.883%. The notes are being offered on a private placement basis to certain accredited investors in each of the provinces of Canada, with the offering expected to close on Aug. 11, subject to the satisfaction of customary closing conditions.

CNH Industrial Capital Canada 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, among other things, the purchase of receivables or other assets in the ordinary course of business. The net proceeds may also be applied to repay CNH Industrial Capital Canada’s indebtedness as it becomes due.

The notes, which are senior unsecured obligations of CNH Industrial Capital Canada, will pay interest semi-annually on Feb. 11 and Aug. 11 of each year, beginning on Feb. 11, 2024, and will be guaranteed by CNH Industrial Capital, CNH Industrial Capital America and New Holland Credit Company, which are each indirect, wholly-owned subsidiaries of CNH Industrial.

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