Latham & Watkins Advises on CNH Industrial Capital LLC’s US$600 Million Notes Offering

CNH Industrial N.V. (NYSE: CNHI / MI: CNHI) has announced that its wholly-owned subsidiary, CNH Industrial Capital LLC, has priced US$600 million in aggregate principal amount of 4.550% notes due 2028, with an issue price of 98.857%. The offering is expected to close on April 10, 2023, subject to the satisfaction of customary closing conditions. CNH Industrial Capital LLC is an indirect wholly owned subsidiary of CNH Industrial N.V. and is headquartered in Racine, Wisconsin. As a captive finance company, the primary business of CNH Industrial Capital LLC and its subsidiaries is to underwrite and manage financing products for end-use customers and dealers of CNH Industrial America LLC and CNH Industrial Canada Ltd. and provide other related financial products and services to support the sale of agricultural and construction equipment sold by CNH Industrial North America.

Latham & Watkins LLP represented the underwriters in the offering with a Chicago-based capital markets team led by partners Chris Lueking and Jonathan Sarna and counsel Manasi Bhattacharyya, with associates Ben Winnett, Greer Gaddie, Omeed Valipour, and Andrew Angel. Advice was also provided on tax matters by partner Joe Kronsnoble, with associate Chris Ohlgart.