CNH Industrial offers fixed-rate senior notes via seven bookrunners

By Mary-Katherine Stinson

Lexington, Ky., Oct. 6 – CNH Industrial Capital LLC is planning a senior note offering, according to a 424B5 filing with the Securities and Exchange Commission.

The notes will be callable at any point with a make-whole premium.

The notes will be putable at 101 if a change of control event occurs.

The notes will be guaranteed by CNH Industrial Capital America LLC and New Holland Credit Co., LLC.

BofA Securities, Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and RBC Capital Markets, LLC are leading the sale. They are joined by BNP Paribas Securities Corp., CIBC World Markets Corp. and Wells Fargo Securities LLC as joint bookrunners.

Citibank NA will be the trustee.

Sullivan & Cromwell LLP will act as legal counsel for the company and Latham & Watkins LLP will serve as legal counsel for the bookrunners.

Proceeds will be added to general funds and used 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. Proceeds may also be applied to repay CNH Industrial Capital’s debt as it becomes due.

Racine, Wis.-based CNH Industrial Capital is the North American arm of CNH Industrial’s global financial services business. CNH Industrial is an agricultural machinery manufacturer with headquarters in Basildon, United Kingdom.

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