CNH Industrial N.V.
), a global leader in industrial goods, announced the pricing of
its benchmark note issuance denominated in euro. The company
confirmed that the offering will be worth €1 billion in principal
amount of 2.75% notes due Mar 2019, with an issue price of 99.47%
of the principal amount.
The offer is expected to close on Mar 18, 2014. The notes will be
issued by CNH Industrial Finance Europe S.A., a wholly-owned
subsidiary of CNH Industrial.
Currently, CNH Industrial has a substantial amount of debt on its
balance sheet, with consolidated debt of €21,714 million, as of
Dec 31, 2013. The company is, at present, rated below investment
grade, with a BB+ rating on its long-term debt by Standard &
Poor's Rating Services.
The proceeds from the debt offering will probably be used to
improve the firm's liquidity to fuel further growth and expand
Based in Amsterdam, CNH Industrial is spread across 190
countries, and employs a workforce of more than 68,000 people and
some 6,000 dealers. Its rich heritage spans 170 years within
which it has established itself as an industry leader that
consistently delivers state-of-the-art technology and capitalizes
on opportunities for growth and consolidation. CNH Industrial
designs, produces, and sells trucks, commercial vehicles, buses,
special vehicles, agricultural and construction equipment, in
addition to engines, and transmissions for those vehicles and
engines for marine application.
With 49 advanced research and development centers positioned
around the world, CNH Industrial has always been committed to
continuous improvement in the reliability and efficiency of its
products. Innovation and technological progress are the pillars
that enabled CNH Industrial's brands, to maintain a considerable
competitive advantage and a global position of leadership over
Notable stocks in the same industry that are worth mentioning
Tata Motors Ltd.
Honda Motor Co., Ltd.
CNH INDUSTRIAL (CNHI): Free Stock Analysis
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