10/08/2024 | Press release | Distributed by Public on 10/08/2024 14:38
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Per Note
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Total
|
| ||||||
Public offering price(1)
|
| | | | 99.809% | | | | | $ | 499,045,000 | | |
Underwriting discount
|
| | | | 0.375% | | | | | $ | 1,875,000 | | |
Proceeds, before expenses, to us
|
| | | | 99.434% | | | | | $ | 497,170,000 | | |
| BBVA | | |
SMBC Nikko
|
| |
IMI - Intesa Sanpaolo
|
| |
UniCredit Capital Markets
|
|
|
ABOUT THIS PROSPECTUS SUPPLEMENT
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| | | | S-1 | | |
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WHERE YOU CAN FIND MORE INFORMATION
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| | | | S-1 | | |
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PROSPECTUS SUPPLEMENT SUMMARY
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| | | | S-2 | | |
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RISK FACTORS
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| | | | S-12 | | |
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CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
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| | | | S-17 | | |
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USE OF PROCEEDS
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| | | | S-20 | | |
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CAPITALIZATION
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| | | | S-21 | | |
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DESCRIPTION OF THE NOTES
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| | | | S-23 | | |
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CERTAIN U.S. FEDERAL INCOME TAX CONSEQUENCES
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| | | | S-46 | | |
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UNDERWRITING
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| | | | S-50 | | |
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VALIDITY OF THE NOTES AND GUARANTEES
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| | | | S-56 | | |
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EXPERTS
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| | | | S-56 | | |
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INCORPORATION OF CERTAIN INFORMATION BY REFERENCE
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| | | | S-56 | | |
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RISK FACTORS
|
| | | | 1 | | |
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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
|
| | | | 1 | | |
|
WHERE YOU CAN FIND MORE INFORMATION
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| | | | 2 | | |
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ABOUT CNH INDUSTRIAL CAPITAL
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| | | | 3 | | |
|
USE OF PROCEEDS
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| | | | 3 | | |
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DESCRIPTION OF DEBT SECURITIES
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| | | | 4 | | |
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LEGAL OWNERSHIP AND BOOK-ENTRY ISSUANCE
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| | | | 29 | | |
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CERTAIN U.S. FEDERAL INCOME TAX CONSEQUENCES
|
| | | | 35 | | |
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EMPLOYEE RETIREMENT INCOME SECURITY ACT
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| | | | 36 | | |
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PLAN OF DISTRIBUTION
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| | | | 38 | | |
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VALIDITY OF THE DEBT SECURITIES AND GUARANTEES
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| | | | 38 | | |
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EXPERTS
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| | | | 38 | | |
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Senior Long-Term
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Short-Term
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Outlook
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S&P Global Ratings
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BBB+
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A-2
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Stable
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Fitch Ratings
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BBB+
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F2
|
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Stable
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Moody's Investors Service
|
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Baa2
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-
|
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Stable
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|
| | |
December 31,
2023 |
| |
June 30,
2024 |
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Total assets
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| | | $ | 8,511,655 | | | | | $ | 8,871,841 | | |
Total debt
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| | | $ | 7,910,804 | | | | | $ | 8,266,832 | | |
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As of June 30, 2024
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| | |
Actual
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| |
As Adjusted(1)
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(dollars in thousands)
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Cash and cash equivalents
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| | | $ | 81,128 | | | | | $ | 358,139 | | |
Restricted cash
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| | | | 364,111 | | | | | | 364,111 | | |
Total cash, cash equivalents and restricted cash
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| | | $ | 445,239 | | | | | $ | 722,250 | | |
Debt | | | | | | | | | | | | | |
Short-term debt (including current maturities of long-term debt)
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| | | | | | | | | | | | |
1.500% Notes due 2024
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| | | $ | 218,916 | | | | | $ | - | | |
3.950% Notes due 2025
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| | | | 500,000 | | | | | | 500,000 | | |
Credit facility - secured
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| | | | 2,212,199 | | | | | | 2,212,199 | | |
Other secured debt
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| | | | 1,998,647 | | | | | | 1,998,647 | | |
Repurchase agreement
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| | | | 328,374 | | | | | | 328,374 | | |
Uncommitted credit line - unsecured
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| | | | 100,000 | | | | | | 100,000 | | |
Credit facility - unsecured
|
| | | | 36,486 | | | | | | 36,486 | | |
Commercial paper
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| | | | 390,000 | | | | | | 390,000 | | |
Hedging, discounts and unamortized issuance costs
|
| | | | (3,661) | | | | | | (3,638) | | |
Total short-term debt
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| | | | 5,780,961 | | | | | | 5,562,068 | | |
Long-term debt
|
| | | | | | | | | | | | |
Notes offered hereby(2)
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| | | | - | | | | | | 500,000 | | |
5.450% Notes due 2025
|
| | | | 400,000 | | | | | | 400,000 | | |
1.875% Notes due 2026
|
| | | | 500,000 | | | | | | 500,000 | | |
1.450% Notes due 2026
|
| | | | 600,000 | | | | | | 600,000 | | |
5.500% Notes due 2026
|
| | | | 291,888 | | | | | | 291,888 | | |
4.800% Notes due 2027
|
| | | | 291,888 | | | | | | 291,888 | | |
4.550% Notes due 2028
|
| | | | 600,000 | | | | | | 600,000 | | |
5.500% Notes due 2029
|
| | | | 500,000 | | | | | | 500,000 | | |
5.100% Notes due 2029
|
| | | | 600,000 | | | | | | 600,000 | | |
Credit facility - secured
|
| | | | 785,389 | | | | | | 785,389 | | |
Other secured debt(3)
|
| | | | 3,599,819 | | | | | | 3,599,819 | | |
Credit facility - unsecured
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| | | | 272,430 | | | | | | 272,430 | | |
Hedging, discounts and unamortized issuance costs
|
| | | | (76,724) | | | | | | (80,572) | | |
Total long-term debt
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| | | | 8,364,690 | | | | | | 8,860,842 | | |
Total third-party debt
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| | | | 14,145,651 | | | | | | 14,422,911 | | |
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As of June 30, 2024
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| | |
Actual
|
| |
As Adjusted(1)
|
| ||||||
| | |
(dollars in thousands)
|
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Affiliated debt
|
| | | | - | | | | | | - | | |
Total debt
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| | | | 14,145,651 | | | | | | 14,422,911 | | |
Stockholder's equity | | | | | | | | | | | | | |
Member's capital
|
| | | | - | | | | | | - | | |
Paid-in capital
|
| | | | 918,314 | | | | | | 918,314 | | |
Accumulated other comprehensive income (loss)
|
| | | | (150,860) | | | | | | (150,860) | | |
Retained earnings
|
| | | | 854,893 | | | | | | 854,893 | | |
Total stockholder's equity
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| | | | 1,622,347 | | | | | | 1,622,347 | | |
Total capitalization
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| | | $ | 15,767,998 | | | | | $ | 16,045,258 | | |
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Underwriters
|
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Principal
Amount of Notes |
| |||
Barclays Capital Inc.
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| | | $ | 62,500,000 | | |
Goldman Sachs & Co. LLC
|
| | | | 62,500,000 | | |
Santander US Capital Markets LLC
|
| | | | 62,500,000 | | |
SG Americas Securities, LLC
|
| | | | 62,500,000 | | |
BBVA Securities Inc.
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| | | | 62,500,000 | | |
SMBC Nikko Securities America, Inc.
|
| | | | 62,500,000 | | |
Intesa Sanpaolo IMI Securities Corp.
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| | | | 62,500,000 | | |
UniCredit Capital Markets LLC
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| | | | 62,500,000 | | |
Total | | | | $ | 500,000,000 | | |
| | |
Per Note
|
| |
Total
|
| ||||||
Underwriting discount
|
| | | | 0.375% | | | | | $ | 1,875,000 | | |
| | |
Page
|
| |||
RISK FACTORS
|
| | | | 1 | | |
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
|
| | | | 1 | | |
WHERE YOU CAN FIND MORE INFORMATION
|
| | | | 2 | | |
ABOUT CNH INDUSTRIAL CAPITAL
|
| | | | 3 | | |
USE OF PROCEEDS
|
| | | | 3 | | |
DESCRIPTION OF DEBT SECURITIES
|
| | | | 4 | | |
LEGAL OWNERSHIP AND BOOK-ENTRY ISSUANCE
|
| | | | 29 | | |
CERTAIN U.S. FEDERAL INCOME TAX CONSEQUENCES
|
| | | | 35 | | |
EMPLOYEE RETIREMENT INCOME SECURITY ACT
|
| | | | 36 | | |
PLAN OF DISTRIBUTION
|
| | | | 38 | | |
VALIDITY OF THE DEBT SECURITIES AND GUARANTEES
|
| | | | 38 | | |
EXPERTS
|
| | | | 38 | | |
| Barclays | | |
Goldman Sachs & Co. LLC
|
| |
Santander
|
| |
SOCIETE GENERALE
|
|
| BBVA | | |
SMBC Nikko
|
| |
IMI - Intesa Sanpaolo
|
| |
UniCredit Capital Markets
|
|