From Earlier: CNH Reports $500M Notes Offering
CNH Global N.V. (NYSE: CNH) today announced its wholly owned subsidiary, CNH Capital LLC, plans to offer approximately $500 million of notes due in 2015. The notes will be guaranteed by CNH Capital America LLC and New Holland Credit Company, LLC, each a wholly owned subsidiary of CNH Capital LLC. CNH Capital LLC is the North American arm of CNH's global financial services business. CNH Capital LLC intends to use the net proceeds from the issuance of the notes for working capital and other general corporate purposes, including, among other things, the purchase of receivables or other assets. The net proceeds may also be applied to repay CNH Capital LLC's indebtedness as it becomes due.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.