CNH Global announced that its wholly owned subsidiary CNH Capital LLC has completed its previously announced private offering of $600 million in aggregate principal amount of 3.625-percent notes due 2018. The net proceeds of the offering were approximately $594.2 million after payment of offering and other related expenses. CNH Capital intends to use the net proceeds from the offering for working capital and other general corporate purposes, including the purchase of receivables or other assets.
The net proceeds may also be applied to repay CNH Capital’s debts as they become due.
The notes were sold only to qualified institutional buyers.
