CNH Industrial to Raise Funds With $500 Million in New Notes

By David Sachs

CNH Industrial said late Monday that its subsidiary, CNH Industrial Capital, will raise funds with an offering of new notes worth $500 million.

The Italian agricultural equipment company said the debt offering, made through the North American arm of its financial services business, is expected to close on Sept. 13. The company will use the proceeds for general purposes, including the purchase of receivables and other assets, it said. The capital also might be applied to repay the subsidiary's debt as it comes due, CNH said.

The notes will be guaranteed by CNH Industrial Capital America and New Holland Credit Company, both wholly owned subsidiaries, the company said.

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(END) Dow Jones Newswires

09-12-23 0126ET