CNH slates benchmark five-year bullet for Wednesday drive-by

By Paul A. Harris

Portland, Ore., June 25 – CNH Industrial Capital LLC, a wholly owned subsidiary of CNH Industrial NV, plans to price a benchmark offering of non-callable five-year senior notes (expected ratings Ba1/BB) on Wednesday, according to a market source.

The Rule 144A and Regulation S with registration rights deal is being marketed by means of a roadshow presentation that is being made available on the internet to qualified investors. There will be no investor call.

Joint bookrunner Barclays will bill and deliver. BNP Paribas Securities Corp., BofA Merrill Lynch and Credit Suisse Securities (USA) LLC are also joint bookrunners.

Proceeds will be used to fund working capital, to repay debt and for general corporate purposes.

The prospective issuer is the North American arm of CNH Industrial’s global financial services business.

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