CNH subsidiary prices $500M private offering

Special to The Freeman

Oct. 4, 2013

BURR RIDGE, Ill. CNH Industrial NVs capital unit has priced a private offering of $500 million.

Net proceeds will go toward working capital, general corporate purposes and possibly repaying debt. The offering by CNH Capital LLC is an aggregate principal amount of 3.25 percent notes due 2017, issued at par, according to a company statement.

The offering is expected to close Oct. 8.

CNH Capital is a subsidiary of CNH Industrial, the entity formed by the full merger of CNH Global NV with majority owner Fiat Industrial SpA, which was approved by shareholders earlier this year.

Burr Ridge, Ill.-based CNH produces construction and agricultural equipment under the new Holland and Case brands. CNHs Case IH brand is based in Racine.