Cnh Industrial intends to throw a new euro bond. The company announced it in a note, explaining that the bond issue will be a benchmark and that the possibility of placing it remains "subordinate to market conditions".
In detail, it will be the issuer of the new bond Cnh Industrial Finance Europe, a wholly owned subsidiary of Cnh Industrial. The operation will fall "under the Euro Medium Term Note programme guaranteed by CNH Industrial – continues the note – The final terms of the issue will be defined at the time of pricing based on market conditions”.
For bonds, the will be requested listing on the Dublin Stock Exchange (Irish Stock Exchange). CNH Industrial “intends to use the net proceeds of the bond issue for general business needs – concludes the note – including repayment of existing debt".
Mid morning the stock of Cnh Industrial on the Stock Exchange travels up by 2,5%, to 9,29 euros, outperforming the Ftse Mib, which gained 1,5% in the same minutes. In the last six months the share has recovered 85% in value (+28% in the last month alone), but the change on an annual basis is still negative by 5,8%.
Last week, the company had announced the appointment of the new managing director: Scott Wine.
