CNH Industrial Capital LLC Raises $600 Million Through Senior Unsecured Notes

CNH Industrial NV, the multinational machinery and equipment manufacturer listed on the New York Stock Exchange, announced on 22 June 2026 that its wholly‑owned subsidiary, CNH Industrial Capital LLC, has priced a new series of senior unsecured notes totaling $600 million in principal.

Key Terms of the Offering

  • Coupon Rate: 4.950 %
  • Issue Price: 99.615 % of face value
  • Maturity: 25 June 2031
  • Interest Payments: Semi‑annually on 25 June and 25 December, beginning 25 December 2026

The notes are backed by guarantees from CNH Industrial Capital America LLC and New Holland Credit Company, LLC, both subsidiaries of CNH Industrial Capital LLC. The offering was executed under a shelf registration statement filed with the U.S. Securities and Exchange Commission on 12 March 2025, allowing the company to raise capital efficiently while keeping future funding flexibility.

Planned Use of Proceeds

CNH Industrial Capital LLC intends to employ the net proceeds primarily for working capital and general corporate purposes. These include the purchase of receivables or other assets in the ordinary course of business and potential repayment of maturing indebtedness. The company’s strategy aligns with its broader financial policy of maintaining a strong liquidity position while supporting growth initiatives across its global portfolio of agricultural, construction, and commercial vehicle products.

Market Context

The 4.950 % coupon is competitive in a low‑interest‑rate environment, reflecting CNH Industrial’s solid credit standing. With a market capitalization of approximately $12.97 billion and a price‑to‑earnings ratio of 33.9, the company is positioned to attract investors seeking a blend of stability and moderate yield. The offering’s pricing at 99.615 % indicates healthy demand from institutional participants.

Underwriting and Distribution

The joint book‑running team for the issue comprised BofA Securities, Inc.; Deutsche Bank Securities Inc.; Goldman Sachs & Co. LLC; and Santander US Capital Markets LLC as the primary underwriters. Additional book‑running managers—Intesa Sanpaolo IMI Securities Corp., Mizuho Securities USA LLC, UniCredit Capital Markets LLC, and Wells Fargo Securities, LLC—supported distribution. This broad syndicate ensures wide market reach and liquidity for the notes upon issuance.

Conclusion

CNH Industrial Capital LLC’s $600 million notes represent a strategic infusion of capital that supports the parent company’s operational needs and financial flexibility. By leveraging a well‑structured debt instrument with attractive terms, CNH Industrial continues to reinforce its commitment to sustaining growth while delivering value to shareholders and stakeholders alike.