CNH announces pricing of its offering of €500,000,000 3.625% notes due January 2033

Rhea-AI Summary

CNH Industrial (NYSE: CNHI) priced a €500,000,000 offering of 3.625% notes due 26 January 2033 at an issue price of 98.984%. Closing is expected on 26 November 2025 and the notes will be issued under CNH’s Euro Medium Term Note Programme.

Net proceeds are intended for general corporate purposes, including repayment of existing debt. CNH will apply to admit the notes to trading on the Global Exchange Market of Euronext Dublin. The offering is for non‑U.S. institutional investors and is not available to retail investors in the EEA/UK.

Positive

• Offering size: €500,000,000
• Fixed coupon: 3.625% due Jan 26, 2033
• Issue price: 98.984%
• Proceeds earmarked for debt repayment

Negative

• Distribution limited: no U.S. retail access
• No PRIIPs KID: not available to EEA/UK retail investors
• Offering not registered in Italy: sales limited to qualified investors

Insights

Fixed Income Strategist

CNH priced a €500,000,000 3.625% note due January 26, 2033; closing expected November 26, 2025.

Issuing €500,000,000 of notes at an issue price of 98.984% creates near‑term funding and extends CNH's debt maturity profile through 2033. The notes carry a fixed coupon of 3.625% and will be listed on Euronext Dublin; net proceeds are earmarked for general corporate purposes, including repayment of existing debt, which is a standard use that can lower short‑term refinancing risk.

Dependence on placement terms and market reception matters: the slight issue discount (98.984%) signals standard market pricing rather than distress; the offering is restricted to non‑U.S. institutional investors under Regulation S and subject to various European offering exemptions. Watch the closing on November 26, 2025, the final Pricing Supplement, and how management applies proceeds to specific maturities within the next 3–12 months for concrete cash‑flow effects.

CNH announces pricing of its offering of €500,000,000 3.625% notes due January 2033

Basildon, November 20, 2025

CNH Industrial N.V. (NYSE: CNH) (“CNH”) today announces the successful pricing of its offering of €500,000,000 in principal amount of 3.625% notes due January 26, 2033 (the “Notes”) with an issue price of 98.984% of the principal amount.

The closing of the offering is currently expected on November 26, 2025. The notes will be issued by CNH under its Euro Medium Term Note Programme. CNH intends to use the net proceeds from the offering for its general corporate purposes including repayment of existing debt. Application will be made for the Notes to be admitted to trading on the Global Exchange Market of Euronext Dublin.

NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES OR TO U.S. PERSONS

MiFID II and UK MiFIR professionals/ECPs-only / No PRIIPs KID – Manufacturer target market (MIFID II and UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document (KID) has been prepared as not available to retail in EEA or UK.

The notes will be offered and sold only outside the United States to institutional investors that are not “U.S. persons” (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amended (the "Securities Act")) and have not been and will not be registered under the Securities Act or any other securities laws. The notes may not be offered or sold in the United States or to or for the account or benefit of “U.S. persons” absent registration under the Securities Act or an applicable exemption from the registration requirements thereof.

This press release shall not constitute an offer to sell or an offer of financial products or securities, nor shall there be any sale of these notes, in the United States or any state or jurisdiction in which such an offer or sale would be unlawful. No action has been or will be taken to permit a public offering of the notes in any jurisdiction.

The offering of the Notes has not been registered with the Commissione Nazionale per le Societá e la Borsa (CONSOB), pursuant to Italian securities legislation and, accordingly, no Notes may be offered, sold or delivered, nor may copies of the Base Listing Particulars or of any other document relating to the Notes be distributed in the Republic of Italy, except: (i) to qualified investors (investitori qualificati), as defined pursuant to Article 2 of Regulation (EU) 2017/1129 (as amended, the “Prospectus Regulation”) and any applicable provision of Italian laws and regulations; or (ii) in any other circumstances which are exempted from the rules on public offerings pursuant to Article 1 of the Prospectus Regulation, Article 34-ter of Regulation No. 11971 of 14 May 1999, as amended from time to time, and the applicable Italian laws.

This press release is directed only (i) to persons who are outside the United Kingdom, (ii) to persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Financial Promotion Order”) or (iii) to high net worth entities falling within Article 49(2)(a) to (d) ("high net worth companies, unincorporated associations, etc.") of the Financial Promotion Order (all such persons together being referred to as "Relevant Persons"). This press release must not be acted on or relied on by persons who are not Relevant Persons. Any investment activity to which this press release relates is reserved for Relevant Persons only and may only be engaged in by Relevant Persons.

In the Netherlands, this press release is directed only to qualified investors within the meaning of the Dutch Financial Supervision Act (Wet op het financieel toezicht).

This press release is an advertisement and is not a prospectus. The base listing particulars dated 12 May 2025 as supplemented on 5 August 2025 and 18 November 2025 (together, the “Base Listing Particulars”) are, and the final Pricing Supplement, when published, will be, available for viewing at https://www.cnh.com/en-US. Potential investors must note that the Base Listing Particulars, as supplemented by the Pricing Supplement, does not constitute a prospectus for the purposes of the Prospectus Regulation or for the purposes of Regulation (EU) 2017/1129 as it forms part of domestic law in the UK by virtue of the European Union (Withdrawal) Act 2018 (as amended, the “UK Prospectus Regulation”). The Base Listing Particulars, as supplemented by the Pricing Supplement, has been prepared on the basis that the offer of Notes in any member state of the EEA will be made pursuant to an exemption under the Prospectus Regulation and, in the case of the UK, pursuant to an exemption under the UK Prospectus Regulation.

CNH Industrial (NYSE: CNH) is a world-class equipment, technology and services company. Driven by its purpose of Breaking New Ground, which centers on Innovation, Sustainability and Productivity, the Company provides the strategic direction, R&D capabilities, and investments that enable the success of its global and regional Brands. Globally, Case IH and New Holland supply 360° agriculture applications from machines to implements and the digital technologies that enhance them; and CASE and New Holland Construction Equipment deliver a full lineup of construction products that make the industry more productive. The Company’s regionally focused Brands include: STEYR, for agricultural tractors; Raven, a leader in digital agriculture, precision technology and the development of autonomous systems; Hemisphere, a leading designer and manufacturer of high-precision satellite-based positioning, and heading technologies; Flexi-Coil, specializing in tillage and seeding systems; Miller, manufacturing application equipment; and Eurocomach, producing a wide range of mini and midi excavators for the construction sector, including electric solutions.

Across a history spanning over two centuries, CNH has always been a pioneer in its sectors and continues to passionately innovate and drive customer efficiency and success. As a truly global company, CNH’s 35,000+ employees form part of a diverse and inclusive workplace, focused on empowering customers to grow, and build, a better world.

For more information and the latest financial and sustainability reports visit: cnh.com

For news from CNH and its Brands visit: media.cnh.com

Contacts:

Media Relations
Email: mediarelations@cnh.com

Investor Relations
Email: investor.relations@cnh.com

Attachment

• 20251120_PR_CNH_European_Bond

FAQ

What are the terms of CNH Industrial’s €500,000,000 bond (CNHI)?

The bond is €500,000,000 of 3.625% notes due Jan 26, 2033, issued at 98.984%.

When will CNH Industrial’s notes closing occur for the Nov 20, 2025 pricing?

Closing is currently expected on November 26, 2025.

How does CNH Industrial plan to use proceeds from the €500M offering (CNHI)?

CNH intends to use net proceeds for general corporate purposes, including repayment of existing debt.

Will CNH Industrial’s 2033 notes be tradable on an exchange?

CNH will apply for admission to trading on the Global Exchange Market of Euronext Dublin.

Can U.S. investors buy CNH Industrial’s €500M notes (CNHI)?

No; the notes are offered only outside the United States to institutional investors that are not U.S. persons.