CNH Industrial accepts tenders for €268.45 million of 2.875% notes

By Susanna Moon

Chicago, Dec. 13 – CNH Industrial NV and its subsidiary CNH Industrial Finance Europe SA accepted for purchase €268,445,000 of the €700 million 2.875% notes due Sept. 27, 2021.

The company began tendering for up to €300 million of the notes on Dec. 5.

The tender offer ended at 11 a.m. ET on Dec. 12.

The purchase price was set at 106.322% of par using the interpolated mid-swap rate of negative 0.026% and a purchase yield of 0.574%, according to a company notice.

Pricing was set at 6 a.m. ET on Dec. 13 using a spread of 60 basis points.

After settlement on Dec. 17, there will be €431,555,000 of the notes left outstanding.

For questions, contact Barclays Bank plc (+44 20 3134 8515 or eu.lm@barclays.com), Citigroup Global Markets Ltd. (+44 20 7986 8969 or liabilitymanagement.europe@citi.com) or NatWest Markets plc (+44 20 7678 5282 or liabilitymanagement@natwestmarkets.com).

The tender agent is Lucid Issuer Services Ltd. (+44 20 7704 0880 or cnh@lucid-is.com).

CNH is a capital goods company registered in the Netherlands with corporate offices in London.

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