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Daily Archives: June 23, 2020

Aero-Engines Europe Virtual, September 16-17, Will Replace Live Event

NEW YORK, June 23, 2020 (GLOBE NEWSWIRE) — Aviation Week Network will hold Aero-Engines Europe Virtual, a digital event with enhanced matchmaking opportunities and high-quality educational content, September 16-17.  The proactive decision to transform this annual conference into a virtual event was made after reviewing government and business restrictions on travel and with the health and safety of its attendees in mind.  Aero-Engines Europe will return as a live event in Stavanger, Norway on September 15-16, 2021.

Aero-Engines Europe is the premier event exclusively dedicated to the trends and issues related to Europe’s engine MRO community, gathering stakeholders from across the value chain including OEMs, MROs, airlines, lessors and suppliers.  The virtual event will provide digital content and networking, and a forum where the airline, engine lessor, OEM and MRO supplier communities can connect with and source new and existing business partners and share knowledge and best practices.

“We understand how important Aero-Engines Europe, and the entire Aero-Engines series, is to the industry and how much effort goes into preparing for it,” said Lydia Janow, Managing Director of Events for Aviation Week Network.  “It was not an easy decision to replace the live event with a virtual event, and so, in this difficult time, we would like to thank our community for its understanding and support. We’re looking forward to continuing our role in driving our industry forward, connecting our communities and supporting businesses, we are in this together.”

The Aviation Week events team is working through details that will support this transition and will be sharing updates via the website and social media platforms in the coming weeks.

Aviation Week Network’s parent company, Informa, has developed AllSecure, a set of enhanced standards and guidelines that provide the highest level of hygiene and safety at all Informa’s events. All upcoming Aero-Engines and MRO events will be organized in accordance with the AllSecure standard, providing visitors with reassurance they are participating in a safe and controlled environment.

ABOUT AVIATION WEEK NETWORK
Aviation Week Network is the largest multimedia information and services provider for the global aviation, aerospace, and defense industries, serving 1.7 million professionals around the world. Industry professionals rely on Aviation Week Network to help them understand the market, make decisions, predict trends, and connect with people and business opportunities. Customers include the world’s leading aerospace manufacturers and suppliers, airlines, airports, business aviation operators, militaries, governments and other organizations that serve this worldwide marketplace. Aviation Week Network’s portfolio delivers award-winning journalism, data, intelligence and analytical resources, world-class tradeshows and conferences, and results-driven marketing services and advertising is helping our customers succeed.

Aviation Week Network is part of Informa Markets, a division of Informa PLC.

ABOUT INFORMA MARKETS
Informa Markets creates platforms for industries and specialist markets to trade, innovate and grow. Our portfolio is comprised of more than 550 international B2B events and brands in markets including Healthcare & Pharmaceuticals, Infrastructure, Construction & Real Estate, Fashion & Apparel, Hospitality, Food & Beverage, and Health & Nutrition, among others. We provide customers and partners around the globe with opportunities to engage, experience and do business through face-to-face exhibitions, specialist digital content and actionable data solutions. As the world’s leading exhibitions organiser, we bring a diverse range of specialist markets to life, unlocking opportunities and helping them to thrive 365 days of the year. For more information, please visit www.informamarkets.com.

Elizabeth Kelley Grace
Elizabeth@thebuzzagency.net
+1.561.702.7471

Aptean Attracts Strategic Growth Capital to Accelerate Innovation and Global Expansion

Charlesbank Capital Partners to Join TA Associates and Vista Equity Partners to Back Aptean’s Expertise in Mission-Critical, Industry-Specific ERP and Supply Chain Solutions

ALPHARETTA, Ga., June 23, 2020 (GLOBE NEWSWIRE) — Today, Aptean, a global provider of mission-critical, industry-specific enterprise resource planning (ERP) and supply chain solutions, announced that funds affiliated with Charlesbank Capital Partners, a leading private equity firm focused on middle-market companies, has signed a definitive agreement to make a strategic growth investment in the company. Charlesbank will join existing investors TA Associates and Vista Equity Partners as institutional shareholders in Aptean. As part of the transaction, TA Associates will also make a further investment in Aptean. The funding provides additional capital that will enable Aptean to increase its investment in innovation and accelerate its global growth. The transaction is expected to close in the third quarter of 2020, pending customary regulatory approval.

TVN Reddy, CEO of Aptean, stated, “Charlesbank is an experienced and successful investor in middle-market growth companies. The firm’s investment in Aptean reflects confidence in our growth plans and our ongoing expansion, even amid today’s turbulent market forces. We believe that our ability to meet the mission-critical needs of specific industries with cloud-hosted, purpose-built ERP and supply chain software is unmatched in our sector. These added investments by Charlesbank and TA Associates will enable us to accelerate the development of our next-generation cloud solutions, as well as our organic and inorganic growth initiatives.”

Aptean has more than 4,100 enterprise clients in over 20 industries across more than 50 countries who rely on its mission-critical ERP, supply chain and compliance applications to run their daily operations. Key industries for Aptean include both process and discrete manufacturing, as well as distribution. Charlesbank is investing in Aptean during a rapid growth phase for the software company. Over the past 15 months, through significant investment in organic initiatives and strategic acquisitions, Aptean’s total revenues have almost doubled and its international footprint now represents almost half of the total company. Equally important, Aptean has grown its talented employee base to more than 1,700 individuals across the globe. Further, significant investments have been made at the leadership level, recruiting several experienced, world-class executives to the management team to help support Aptean’s rapid global expansion.

Hythem T. El-Nazer, a Managing Director at TA Associates, said, “Since making our investment in Aptean in April of 2019, the business has accelerated its growth through continued innovation in new applications and strategic acquisitions. Aptean’s significant investment in cloud applications has led to an almost 100% growth in SaaS bookings over the last 36 months, providing significant tailwinds for the future. We are thrilled to welcome Charlesbank as a new investment partner, and are excited to make a further growth capital investment in Aptean, solidifying our commitment to its future.”

Marc Teillon, Co-Head of the Foundation Fund and a Senior Managing Director at Vista, stated, “We could not be more excited to continue our nearly decade-long support of Aptean as the company expands both its innovation roadmap and geographic footprint. Aptean is poised to add next-generation cloud solutions that complement its existing offerings and is well-positioned to further expand its global reach. Vista looks forward to continuing to work with the executive management team and TA Associates, and we are pleased to have Charlesbank join us, as we build on Aptean’s strengths in serving the ERP and supply chain software markets globally.”

Hiren Mankodi, Managing Director at Charlesbank, commented, “Now is the perfect time to invest in Aptean, joining TA Associates and Vista Equity Partners to accelerate the company’s growth. Aptean’s strong brand, rapid expansion, industry-specific solutions and forward-looking strategy have made it a clear success story in enterprise software over the past several years.” Fellow Charlesbank Managing Director Ryan Carroll added, “Aptean perfectly exemplifies the type of investment we look for at Charlesbank: a strong-performing company with an experienced management team and a well-defined area of focus. We are excited to be backing TVN Reddy and the Aptean management team on the next phase of their journey.”

Charlesbank Capital Partners, TA Associates and Vista Equity Partners will have equal representation on the Aptean Board of Directors. Kirkland & Ellis LLP is acting as legal advisors to Aptean, Vista Equity Partners and TA Associates. Ropes & Gray LLP is acting as legal advisor to Charlesbank Capital Partners.

About Aptean
Aptean is a global provider of mission-critical, industry-specific software solutions. Aptean’s purpose-built ERP and supply chain management solutions help address the unique challenges facing process and discrete manufacturers, distributors and other focused organizations. Aptean’s compliance solutions are built for companies serving specific markets such as finance, healthcare, biotech and pharmaceuticals. Over 4,100 organizations in more than 20 industries across 54 countries trust Aptean’s solutions at their core to assist with running their operations. To learn more about Aptean and the markets we serve, visit www.aptean.com.

Aptean is a trademark of Aptean, Inc. All other company and product names may be trademarks of the respective companies with which they are associated.

About Charlesbank Capital Partners
Based in Boston and New York, Charlesbank Capital Partners is a middle-market private equity investment firm managing more than $6 billion of capital. Charlesbank focuses on management-led buyouts and growth capital financings and also engages in opportunistic credit and technology investments. The firm seeks to build companies with sustainable competitive advantage and excellent prospects for growth. For more information, please visit www.charlesbank.com.

About TA Associates
TA Associates is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $33.5 billion in capital since its founding in 1968 and is committing to new investments at the pace of over $2 billion per year. The firm’s more than 85 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA Associates can be found at www.ta.com.

About Vista Equity Partners
Vista is a U.S.-headquartered investment firm with more than $57 billion in cumulative capital commitments. Vista exclusively invests in enterprise software, data, and technology-enabled organizations across private equity, credit, public equity, and permanent capital strategies. As a value-added investor with a long-term perspective, Vista contributes professional expertise and multi-level support towards companies to realize their full potential. Vista’s investment approach is anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions, and proven management techniques that yield flexibility and opportunity. For more information, please visit www.vistaequitypartners.com.

For Media Inquiries Please Contact:

For Aptean
Nicole O’Rourke
Chief Marketing Officer
770-715-0362
Nicole.Orourke@aptean.com

For Charlesbank Capital Partners
Maura Turner
617-619-5457
mturner@charlesbank.com

For TA Associates
Marcia O’Carroll
TA Associates
617-574-6796
mocarroll@ta.com

Philip Nunes
BackBay Communications
617-391-0792
phil.nunes@backbaycommunications.com

For Vista Equity Partners
Dafna Tapiero
202-776-7776
vista@laurelstrategies.com

Philips receives FDA premarket approval for its HeartStart FR3 and HeartStart FRx automated external defibrillators

June 23, 2020

Amsterdam, the Netherlands and Cambridge, MA – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced that the Center for Devices and Radiological Health (CDRH) of the U.S. Food and Drug Administration (FDA) has granted premarket approval (PMA) for the company’s HeartStart FR3 [1] and HeartStart FRx [2] automated external defibrillators (AEDs), and their supporting accessories, including batteries and pads.

The HeartStart FR3 is a professional grade AED with advanced features to help medical personnel and first-responders treat cardiac arrest. The HeartStart FRx is a public-access AED that features intuitive, step-by-step voice instructions, including cardiopulmonary resuscitation (CPR) guidance, for emergency use in workplaces, schools and other public spaces, as well as for medical professional use.

“We are pleased to receive premarket approval for our HeartStart FR3 and HeartStart FRx AEDs,” said Arman Voskerchyan, Business Leader Therapeutic Care at Philips. “This complements the premarket approval that we received last year for our HeartStart OnSite and HeartStart Home AEDs. Our industry leading portfolio of AEDs is instrumental in helping save the lives of numerous sudden cardiac arrest victims in the U.S. and worldwide. We look forward to continuing to meet our commitment to our medical professional and public-access customers, and especially to the victims of sudden cardiac arrest who rely on our AEDs.”

FDA PMA information for the HeartStart FR3 and HeartStart FRx defibrillators can be found here and here, respectively. These devices have been marketed to date under FDA premarket notifications (510(k)), but are now approved under PMA.

In 2019, Philips received PMA approval for its HeartStart OnSite and HeartStart Home defibrillators, which are the only over-the-counter AEDs available to consumers in the U.S.

[1]   Model 861388 and Model 861389
[2]   Model 861304

For further information, please contact:

Steve Klink
Philips Global Press Office
Tel. +31 6 10888824
E-mail: steve.klink@philips.com

Kathy O’Reilly
Philips Global Press Office
Tel.: +1 978 221 8919
E-mail: kathy.oreilly@philips.com
Twitter:  @kathyoreilly

About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and enabling better outcomes across the health continuum from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips’ health technology portfolio generated 2019 sales of EUR 19.5 billion and employs approximately 81,000 employees with sales and services in more than 100 countries. News about Philips can be found at http://www.philips.com/newscenter.

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CNH Industrial announces subsidiary notes offering

London, June 23, 2020

CNH Industrial N.V. (NYSE: CNHI / MI: CNHI) today announced that its wholly owned subsidiary, CNH Industrial Capital LLC, plans to offer new notes, subject to market conditions. The notes will be guaranteed by CNH Industrial Capital America LLC and New Holland Credit Company, LLC, each a wholly owned subsidiary of CNH Industrial Capital LLC. CNH Industrial Capital LLC is the North American arm of CNH Industrial’s global financial services business.

CNH Industrial Capital LLC intends to add the net proceeds from the offering to its general funds and use them for working capital and other general corporate purposes, including, among other things, the purchase of receivables or other assets in the ordinary course of business. The net proceeds may also be applied to repay CNH Industrial Capital LLC’s indebtedness as it becomes due.

J.P. Morgan Securities LLC, NatWest Markets Securities Inc., Société Générale and Wells Fargo Securities, LLC are acting as joint book-running managers and the representatives of the underwriters for the offering, and Banca IMI S.p.A., Credit Agricole Securities (USA) Inc. and UniCredit Capital Markets LLC are acting as joint book-running managers for the offering. The offering is being made pursuant to an effective shelf registration statement filed with the U.S. Securities and Exchange Commission on March 15, 2019. Copies of the preliminary prospectus supplement and prospectus for the offering may be obtained by contacting J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Telephone: 1-866-803-9204; NatWest Markets Securities Inc., 600 Washington Boulevard, Stamford, CT 06901, Attn: NatWest Markets Syndicate Desk, Telephone: 1-203-897-6166, Email: SyndicateAmericas@natwestmarkets.com; Société Générale, 245 Park Avenue, New York, NY 10167, Attn: Syndicate Desk GLBA/SYN/CAP/BND, Telephone: 1-855-881-2108, Email: LON-GLFI-SYN-CAP@sgcib.com; or Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, Attn: WFS Customer Service, Telephone: 1-800-645-3751, Email: wfscustomerservice@wellsfargo.com. Copies of the preliminary prospectus supplement and the accompanying prospectus for the offering are also available on the website of the U.S. Securities and Exchange Commission at http://www.sec.gov.
***

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of these securities, nor shall there be any sale of these securities, in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.

CNH Industrial Capital LLC is an indirect wholly owned subsidiary of CNH Industrial N.V. and is headquartered in Racine, Wisconsin.  As a captive finance company, the primary business of CNH Industrial Capital LLC and its subsidiaries is to underwrite and manage financing products for end-use customers and dealers of CNH Industrial America LLC and CNH Industrial Canada Ltd. (collectively, “CNH Industrial North America”) and provide other related financial products and services to support the sale of agricultural and construction equipment sold by CNH Industrial North America. CNH Industrial Capital LLC and its subsidiaries also provide wholesale and retail financing related to new and used agricultural and construction equipment manufactured by entities other than CNH Industrial North America. CNH Industrial Capital LLC’s principal executive offices are located at 5729 Washington Avenue, Racine, WI 53406, and the telephone number is +1(262) 636-6011.

Contacts:

Corporate Communications

Email: mediarelations@cnhind.com

Investor Relations

Email: investor.relations@cnhind.com

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ADNOC Announces $20.7 Billion Energy Infrastructure Deal

Joint venture will yield $10.1 billion in foreign direct investment in one of the largest global energy infrastructure transactionsLargest transaction in ADNOC’s strategy to proactively manage its assets and maximize value, launched in 2017Foreign investment into ADNOC’s infrastructure unlocks significant capital to reinvest in ADNOC’s strategic growth projects and reinforces the UAE as an investment destination of choiceLandmark transaction creates a further benchmark for large-scale energy infrastructure investment into the UAE and wider region from leading global institutional investors

Abu Dhabi, UAE, June 23, 2020 (GLOBE NEWSWIRE) — The Abu Dhabi National Oil Company (ADNOC) announced today that it has entered into an agreement with some of the world’s leading infrastructure investors and operators, sovereign wealth and pension funds. A consortium of investors comprising Global Infrastructure Partners (GIP), Brookfield Asset Management, Singapore’s sovereign wealth fund GIC, Ontario Teachers’ Pension Plan Board (Ontario Teachers’), NH Investment & Securities and Snam (the Consortium), will invest in select ADNOC gas pipeline assets valued at $20.7 billion.

In one of the largest global energy infrastructure transactions, the Consortium will collectively acquire a 49% stake in ADNOC Gas Pipeline Assets LLC (henceforth referred to as “ADNOC Gas Pipelines”), a newly formed subsidiary of ADNOC with lease rights to 38 pipelines covering a total of 982.3 kilometers, with ADNOC holding the 51% majority stake. The innovative transaction structure allows ADNOC to tap new pools of global institutional investment capital, whilst at the same time maintaining full operating control over the assets included as part of the investment.

Under the terms of the agreement, ADNOC will lease its ownership interest in the assets to ADNOC Gas Pipelines for 20 years in return for a volume-based tariff subject to a floor and a cap. The transaction will result in upfront proceeds of over $10 billion to ADNOC and is subject to customary closing conditions and regulatory approvals.

The gas pipeline network connects ADNOC’s upstream assets to local UAE off-takers. Ownership of the pipelines, management of pipeline operations, and all responsibility for associated operational and capital expenditures will remain with ADNOC. For ADNOC’s partners, this transaction represents a unique opportunity to invest in quality energy infrastructure assets with a low-risk profile that generate stable cash flows.

Commenting on the transaction, His Excellency Dr. Sultan Al Jaber, UAE Minister of State and ADNOC Group CEO, said: “We are pleased to once again partner with some of the world’s leading global infrastructure and institutional investors in what marks the region’s largest energy infrastructure investment. This milestone transaction demonstrates the trust and confidence placed in ADNOC by the global investment community and unlocks significant value from our pipeline portfolio, following last year’s groundbreaking oil pipeline infrastructure investment partnership. Today’s landmark investment signals continued strong interest in ADNOC’s low-risk, income-generating assets, and sets another benchmark for large-scale energy infrastructure investments in the UAE and the wider region. It solidifies ADNOC’s position as an attractive partner and reinforces the UAE’s track record as the region’s go-to foreign direct investment destination, even during the current unprecedented circumstances.”

Adebayo Ogunlesi, Chairman and Managing Partner of GIP commented: “We are delighted to be entering into this strategic partnership with ADNOC, one of the world’s leading energy companies. ADNOC’s gas network is a core piece of midstream infrastructure in the UAE and this transaction presents a unique opportunity to invest in an asset of this quality and importance, while also supporting ADNOC in their smart growth strategy. This transaction underscores GIP’s strategy of investing in high quality infrastructure assets and developing long term strategic partnerships with industry leaders.”

“We are pleased to invest in this strategic pipeline system, which serves as the critical link between UAE low-cost natural gas supply and robust in-country demand,” said Bruce Flatt, CEO, Brookfield Asset Management. “This transaction aligns with our strategy of investing in high quality, essential assets generating stable and predictable cash flows in a sector we know well. ADNOC has established itself as one of the world’s leading natural gas producers, with an exemplary operational record. We look forward to partnering with them in support of this critical asset and sector.”

“This strategic transaction is attractive to Ontario Teachers’ as it provides us with a stake in a high- quality infrastructure asset with stable long-term cash flows, which will help us deliver on our pension promise,” said Ziad Hindo, Chief Investment Officer, Ontario Teachers’. “This new partnership with ADNOC and a group of world-class institutional and infrastructure investors expands our global presence and provides further geographic diversification to our portfolio.”

“Investing into ADNOC’s gas infrastructure and supporting Abu Dhabi’s energy initiatives reinforces our investment diversification strategy and demonstrates Korea’s growing presence in the global infrastructure space. I am confident this milestone transaction can become a stepping-stone to broaden Korean investments in the region,” remarked Young-Chae Jeong, Chairman & CEO of NH Investment & Securities.

Snam CEO, Marco Alverà, said: “With this strategic transaction, we strengthen our international footprint by entering a country and a region that are key to our sector. Our aim is to promote further cooperation opportunities, particularly in the energy transition. We will work with ADNOC and the Consortium partners by leveraging our industrial skills, know-how and innovative solutions in natural gas infrastructure management and provide our contribution to the UAE’s energy system. This transaction was carried out remotely over the past months, testifying the resilience of our company and its willingness to continue its growth path.”

This agreement is the largest transaction since ADNOC announced the expansion of its partnership and investment model in 2017, which aims to unlock value for ADNOC. Since then, ADNOC has entered the debt capital markets for the first time, issuing a $3 billion bond backed by the Abu Dhabi Crude Oil Pipeline; partially floated ADNOC Distribution, the first-ever IPO of an ADNOC Group company; and entered into several strategic partnerships in its drilling, refining, fertilizer and trading businesses, amongst others. These transactions and today’s landmark announcement are part of ADNOC’s ongoing delivery of its value creation strategy.

This milestone agreement reinforces ADNOC’s focus and role as a catalyst for responsible and sustained investment and value creation for Abu Dhabi and the UAE in this challenging period. The partnership unlocks significant capital that can be deployed into strategic initiatives to support ADNOC’s smart growth strategy.

Additional Transaction Details

The strategic joint venture will see ADNOC pay ADNOC Gas Pipelines a volume-based tariff for the use of pipelines that transport sales gas and natural gas liquids (NGL) from ADNOC’s upstream assets to Abu Dhabi’s key outlets and terminals. The tariff will be charged on the total volumes transported through the pipelines, together with liquefied natural gas (LNG) flows, subject to a volume cap. The new subsidiary will distribute 100% of free cash to the investors in the form of quarterly dividends.

Bank of America Securities, First Abu Dhabi Bank and Mizuho Securities acted as financial advisors to ADNOC while Moelis & Company acted as an independent financial advisor to ADNOC.

ADNOC’s Gas Strategy

The UAE holds the world’s sixth-largest natural gas reserves. ADNOC’s gas strategy aims to meet in-country gas demand and support the UAE in achieving gas self-sufficiency. Dynamics for the UAE gas market are attractive, driven largely by domestic utilities and growing industrial production, in addition to the demand created by ADNOC’s own upstream and downstream activities.

ADNOC’s Sustainability Strategy

ADNOC has a legacy of responsible oil and gas production and long-standing commitment to environmental stewardship. Earlier this year, it announced a comprehensive set of sustainability goals, which included plans to decrease its greenhouse gas (GHG) emissions intensity by 25% by 2030, strengthening its position as one of the least carbon-intensive oil and gas companies in the world.

About ADNOC

ADNOC is one of the world’s leading diversified energy and petrochemicals groups. With 14 specialist subsidiary and joint venture companies, ADNOC is a primary catalyst for the UAE’s growth and diversification. To find out more, visit www.adnoc.ae

For further information: media@adnoc.ae

About Global Infrastructure Partners

Global Infrastructure Partners (“GIP”) is an independent infrastructure fund manager that makes equity and debt investments in infrastructure assets and businesses. GIP targets investments in the energy, transport and water/waste sectors in both OECD and select emerging market countries. GIP’s 40 equity portfolio companies employ approximately 62,000 people in over 50 countries. GIP’s teams are located in 10 offices: London, New York, Stamford (Connecticut), Sydney, Melbourne, Brisbane, Mumbai, Delhi, Singapore and Hong Kong. For more information, visit www.global-infra.com.

About Brookfield Asset Management

Brookfield Asset Management Inc. is a leading global alternative asset manager with over

$515 billion of assets under management across real estate, infrastructure, renewable power, private equity and credit. Brookfield owns and operates long-life assets and businesses, many of which form the backbone of the global economy. Utilizing its global reach, access to large- scale capital and operational expertise, Brookfield offers a range of alternative investment products to investors around the world – including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies and private wealth investors.

Brookfield Asset Management is listed on the New York and Toronto stock exchanges under the symbol BAM and BAM.A respectively.

About Ontario Teachers’

The Ontario Teachers’ Pension Plan Board (Ontario Teachers’) is the administrator of Canada’s largest single-profession pension plan, with C$207.4 billion in net assets (all figures at December 31, 2019). It holds a diverse global portfolio of assets, approximately 80% of which is managed in-house, and has earned an annual total-fund net return of 9.7% since the plan’s founding in 1990. Ontario Teachers’ is an independent organization headquartered in Toronto. Its Asia-Pacific region office is located in Hong Kong and its Europe, Middle East & Africa region office is in London. The defined-benefit plan, which is fully funded, invests and administers the pensions of the province of Ontario’s 329,000 active and retired teachers. For more information, visit otpp.com and follow us on Twitter @OtppInfo.

About NH Investment & Securities (“NH I&S”)

NH I&S is the second largest investment bank in Korea, offering a broad range of financial services, encompassing wealth management, investment banking, brokerage and merchant banking through 79 domestic branches. Since its founding in 1969, NH I&S has been a trusted partner of Korea’s capital markets. As of September 2019, NH I&S has total assets of US$46bn and shareholders’ equity of US$4.5bn. NH I&S, together with NongHyup Financial Group and its affiliates, forms NH Financial Group. For more information, visit www.nhqv.com

About Snam

Snam is one of the world’s leading energy infrastructure operators and one of the largest Italian-listed companies in terms of market capitalization. Through its international subsidiaries, it operates in Albania, Austria, China, France, Greece and the UK. The company has the largest natural gas transmission network and storage capacity among European peers and is also one of the main operators in regasification. As part of a €6.5 billion plan to 2023, Snam invests €1.4 bn in the SnamTec project, focused on innovation and new energy transition businesses, from sustainable mobility to biomethane and energy efficiency. Snam also aims to enable and promote the development of hydrogen to encourage the decarbonisation of the energy sector and industry. Snam’s business model is based on sustainable growth, transparency, the promotion of talent and diversity and the social development of regions through the initiatives of Fondazione Snam. To find out more, visit www.snam.it

For further information: ufficio.stampa@snam.it

Jack Cowell
Global Infrastructure Partners
212 315 8133
Jack.Cowell@global-infra.com

CNH Industrial announces subsidiary notes offering

London, June 23, 2020

CNH Industrial N.V. (NYSE: CNHI / MI: CNHI) today announced that its wholly owned subsidiary, CNH Industrial Capital LLC, plans to offer new notes, subject to market conditions. The notes will be guaranteed by CNH Industrial Capital America LLC and New Holland Credit Company, LLC, each a wholly owned subsidiary of CNH Industrial Capital LLC. CNH Industrial Capital LLC is the North American arm of CNH Industrial’s global financial services business.

CNH Industrial Capital LLC intends to add the net proceeds from the offering to its general funds and use them for working capital and other general corporate purposes, including, among other things, the purchase of receivables or other assets in the ordinary course of business. The net proceeds may also be applied to repay CNH Industrial Capital LLC’s indebtedness as it becomes due.

J.P. Morgan Securities LLC, NatWest Markets Securities Inc., Société Générale and Wells Fargo Securities, LLC are acting as joint book-running managers and the representatives of the underwriters for the offering, and Banca IMI S.p.A., Credit Agricole Securities (USA) Inc. and UniCredit Capital Markets LLC are acting as joint book-running managers for the offering. The offering is being made pursuant to an effective shelf registration statement filed with the U.S. Securities and Exchange Commission on March 15, 2019. Copies of the preliminary prospectus supplement and prospectus for the offering may be obtained by contacting J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Telephone: 1-866-803-9204; NatWest Markets Securities Inc., 600 Washington Boulevard, Stamford, CT 06901, Attn: NatWest Markets Syndicate Desk, Telephone: 1-203-897-6166, Email: SyndicateAmericas@natwestmarkets.com; Société Générale, 245 Park Avenue, New York, NY 10167, Attn: Syndicate Desk GLBA/SYN/CAP/BND, Telephone: 1-855-881-2108, Email: LON-GLFI-SYN-CAP@sgcib.com; or Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, Attn: WFS Customer Service, Telephone: 1-800-645-3751, Email: wfscustomerservice@wellsfargo.com. Copies of the preliminary prospectus supplement and the accompanying prospectus for the offering are also available on the website of the U.S. Securities and Exchange Commission at http://www.sec.gov.
***

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of these securities, nor shall there be any sale of these securities, in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.

CNH Industrial Capital LLC is an indirect wholly owned subsidiary of CNH Industrial N.V. and is headquartered in Racine, Wisconsin.  As a captive finance company, the primary business of CNH Industrial Capital LLC and its subsidiaries is to underwrite and manage financing products for end-use customers and dealers of CNH Industrial America LLC and CNH Industrial Canada Ltd. (collectively, “CNH Industrial North America”) and provide other related financial products and services to support the sale of agricultural and construction equipment sold by CNH Industrial North America. CNH Industrial Capital LLC and its subsidiaries also provide wholesale and retail financing related to new and used agricultural and construction equipment manufactured by entities other than CNH Industrial North America. CNH Industrial Capital LLC’s principal executive offices are located at 5729 Washington Avenue, Racine, WI 53406, and the telephone number is +1(262) 636-6011.

Contacts:

Corporate Communications

Email: mediarelations@cnhind.com

Investor Relations

Email: investor.relations@cnhind.com

Attachment

ADNOC Announces $20.7 Billion Energy Infrastructure Deal

Joint venture will yield $10.1 billion in foreign direct investment in one of the largest global energy infrastructure transactionsLargest transaction in ADNOC’s strategy to proactively manage its assets and maximize value, launched in 2017Foreign investment into ADNOC’s infrastructure unlocks significant capital to reinvest in ADNOC’s strategic growth projects and reinforces the UAE as an investment destination of choiceLandmark transaction creates a further benchmark for large-scale energy infrastructure investment into the UAE and wider region from leading global institutional investors

Abu Dhabi, UAE, June 23, 2020 (GLOBE NEWSWIRE) — The Abu Dhabi National Oil Company (ADNOC) announced today that it has entered into an agreement with some of the world’s leading infrastructure investors and operators, sovereign wealth and pension funds. A consortium of investors comprising Global Infrastructure Partners (GIP), Brookfield Asset Management, Singapore’s sovereign wealth fund GIC, Ontario Teachers’ Pension Plan Board (Ontario Teachers’), NH Investment & Securities and Snam (the Consortium), will invest in select ADNOC gas pipeline assets valued at $20.7 billion.

In one of the largest global energy infrastructure transactions, the Consortium will collectively acquire a 49% stake in ADNOC Gas Pipeline Assets LLC (henceforth referred to as “ADNOC Gas Pipelines”), a newly formed subsidiary of ADNOC with lease rights to 38 pipelines covering a total of 982.3 kilometers, with ADNOC holding the 51% majority stake. The innovative transaction structure allows ADNOC to tap new pools of global institutional investment capital, whilst at the same time maintaining full operating control over the assets included as part of the investment.

Under the terms of the agreement, ADNOC will lease its ownership interest in the assets to ADNOC Gas Pipelines for 20 years in return for a volume-based tariff subject to a floor and a cap. The transaction will result in upfront proceeds of over $10 billion to ADNOC and is subject to customary closing conditions and regulatory approvals.

The gas pipeline network connects ADNOC’s upstream assets to local UAE off-takers. Ownership of the pipelines, management of pipeline operations, and all responsibility for associated operational and capital expenditures will remain with ADNOC. For ADNOC’s partners, this transaction represents a unique opportunity to invest in quality energy infrastructure assets with a low-risk profile that generate stable cash flows.

Commenting on the transaction, His Excellency Dr. Sultan Al Jaber, UAE Minister of State and ADNOC Group CEO, said: “We are pleased to once again partner with some of the world’s leading global infrastructure and institutional investors in what marks the region’s largest energy infrastructure investment. This milestone transaction demonstrates the trust and confidence placed in ADNOC by the global investment community and unlocks significant value from our pipeline portfolio, following last year’s groundbreaking oil pipeline infrastructure investment partnership. Today’s landmark investment signals continued strong interest in ADNOC’s low-risk, income-generating assets, and sets another benchmark for large-scale energy infrastructure investments in the UAE and the wider region. It solidifies ADNOC’s position as an attractive partner and reinforces the UAE’s track record as the region’s go-to foreign direct investment destination, even during the current unprecedented circumstances.”

Adebayo Ogunlesi, Chairman and Managing Partner of GIP commented: “We are delighted to be entering into this strategic partnership with ADNOC, one of the world’s leading energy companies. ADNOC’s gas network is a core piece of midstream infrastructure in the UAE and this transaction presents a unique opportunity to invest in an asset of this quality and importance, while also supporting ADNOC in their smart growth strategy. This transaction underscores GIP’s strategy of investing in high quality infrastructure assets and developing long term strategic partnerships with industry leaders.”

“We are pleased to invest in this strategic pipeline system, which serves as the critical link between UAE low-cost natural gas supply and robust in-country demand,” said Bruce Flatt, CEO, Brookfield Asset Management. “This transaction aligns with our strategy of investing in high quality, essential assets generating stable and predictable cash flows in a sector we know well. ADNOC has established itself as one of the world’s leading natural gas producers, with an exemplary operational record. We look forward to partnering with them in support of this critical asset and sector.”

“This strategic transaction is attractive to Ontario Teachers’ as it provides us with a stake in a high- quality infrastructure asset with stable long-term cash flows, which will help us deliver on our pension promise,” said Ziad Hindo, Chief Investment Officer, Ontario Teachers’. “This new partnership with ADNOC and a group of world-class institutional and infrastructure investors expands our global presence and provides further geographic diversification to our portfolio.”

“Investing into ADNOC’s gas infrastructure and supporting Abu Dhabi’s energy initiatives reinforces our investment diversification strategy and demonstrates Korea’s growing presence in the global infrastructure space. I am confident this milestone transaction can become a stepping-stone to broaden Korean investments in the region,” remarked Young-Chae Jeong, Chairman & CEO of NH Investment & Securities.

Snam CEO, Marco Alverà, said: “With this strategic transaction, we strengthen our international footprint by entering a country and a region that are key to our sector. Our aim is to promote further cooperation opportunities, particularly in the energy transition. We will work with ADNOC and the Consortium partners by leveraging our industrial skills, know-how and innovative solutions in natural gas infrastructure management and provide our contribution to the UAE’s energy system. This transaction was carried out remotely over the past months, testifying the resilience of our company and its willingness to continue its growth path.”

This agreement is the largest transaction since ADNOC announced the expansion of its partnership and investment model in 2017, which aims to unlock value for ADNOC. Since then, ADNOC has entered the debt capital markets for the first time, issuing a $3 billion bond backed by the Abu Dhabi Crude Oil Pipeline; partially floated ADNOC Distribution, the first-ever IPO of an ADNOC Group company; and entered into several strategic partnerships in its drilling, refining, fertilizer and trading businesses, amongst others. These transactions and today’s landmark announcement are part of ADNOC’s ongoing delivery of its value creation strategy.

This milestone agreement reinforces ADNOC’s focus and role as a catalyst for responsible and sustained investment and value creation for Abu Dhabi and the UAE in this challenging period. The partnership unlocks significant capital that can be deployed into strategic initiatives to support ADNOC’s smart growth strategy.

Additional Transaction Details

The strategic joint venture will see ADNOC pay ADNOC Gas Pipelines a volume-based tariff for the use of pipelines that transport sales gas and natural gas liquids (NGL) from ADNOC’s upstream assets to Abu Dhabi’s key outlets and terminals. The tariff will be charged on the total volumes transported through the pipelines, together with liquefied natural gas (LNG) flows, subject to a volume cap. The new subsidiary will distribute 100% of free cash to the investors in the form of quarterly dividends.

Bank of America Securities, First Abu Dhabi Bank and Mizuho Securities acted as financial advisors to ADNOC while Moelis & Company acted as an independent financial advisor to ADNOC.

ADNOC’s Gas Strategy

The UAE holds the world’s sixth-largest natural gas reserves. ADNOC’s gas strategy aims to meet in-country gas demand and support the UAE in achieving gas self-sufficiency. Dynamics for the UAE gas market are attractive, driven largely by domestic utilities and growing industrial production, in addition to the demand created by ADNOC’s own upstream and downstream activities.

ADNOC’s Sustainability Strategy

ADNOC has a legacy of responsible oil and gas production and long-standing commitment to environmental stewardship. Earlier this year, it announced a comprehensive set of sustainability goals, which included plans to decrease its greenhouse gas (GHG) emissions intensity by 25% by 2030, strengthening its position as one of the least carbon-intensive oil and gas companies in the world.

About ADNOC

ADNOC is one of the world’s leading diversified energy and petrochemicals groups. With 14 specialist subsidiary and joint venture companies, ADNOC is a primary catalyst for the UAE’s growth and diversification. To find out more, visit www.adnoc.ae

For further information: media@adnoc.ae

About Global Infrastructure Partners

Global Infrastructure Partners (“GIP”) is an independent infrastructure fund manager that makes equity and debt investments in infrastructure assets and businesses. GIP targets investments in the energy, transport and water/waste sectors in both OECD and select emerging market countries. GIP’s 40 equity portfolio companies employ approximately 62,000 people in over 50 countries. GIP’s teams are located in 10 offices: London, New York, Stamford (Connecticut), Sydney, Melbourne, Brisbane, Mumbai, Delhi, Singapore and Hong Kong. For more information, visit www.global-infra.com.

About Brookfield Asset Management

Brookfield Asset Management Inc. is a leading global alternative asset manager with over

$515 billion of assets under management across real estate, infrastructure, renewable power, private equity and credit. Brookfield owns and operates long-life assets and businesses, many of which form the backbone of the global economy. Utilizing its global reach, access to large- scale capital and operational expertise, Brookfield offers a range of alternative investment products to investors around the world – including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies and private wealth investors.

Brookfield Asset Management is listed on the New York and Toronto stock exchanges under the symbol BAM and BAM.A respectively.

About Ontario Teachers’

The Ontario Teachers’ Pension Plan Board (Ontario Teachers’) is the administrator of Canada’s largest single-profession pension plan, with C$207.4 billion in net assets (all figures at December 31, 2019). It holds a diverse global portfolio of assets, approximately 80% of which is managed in-house, and has earned an annual total-fund net return of 9.7% since the plan’s founding in 1990. Ontario Teachers’ is an independent organization headquartered in Toronto. Its Asia-Pacific region office is located in Hong Kong and its Europe, Middle East & Africa region office is in London. The defined-benefit plan, which is fully funded, invests and administers the pensions of the province of Ontario’s 329,000 active and retired teachers. For more information, visit otpp.com and follow us on Twitter @OtppInfo.

About NH Investment & Securities (“NH I&S”)

NH I&S is the second largest investment bank in Korea, offering a broad range of financial services, encompassing wealth management, investment banking, brokerage and merchant banking through 79 domestic branches. Since its founding in 1969, NH I&S has been a trusted partner of Korea’s capital markets. As of September 2019, NH I&S has total assets of US$46bn and shareholders’ equity of US$4.5bn. NH I&S, together with NongHyup Financial Group and its affiliates, forms NH Financial Group. For more information, visit www.nhqv.com

About Snam

Snam is one of the world’s leading energy infrastructure operators and one of the largest Italian-listed companies in terms of market capitalization. Through its international subsidiaries, it operates in Albania, Austria, China, France, Greece and the UK. The company has the largest natural gas transmission network and storage capacity among European peers and is also one of the main operators in regasification. As part of a €6.5 billion plan to 2023, Snam invests €1.4 bn in the SnamTec project, focused on innovation and new energy transition businesses, from sustainable mobility to biomethane and energy efficiency. Snam also aims to enable and promote the development of hydrogen to encourage the decarbonisation of the energy sector and industry. Snam’s business model is based on sustainable growth, transparency, the promotion of talent and diversity and the social development of regions through the initiatives of Fondazione Snam. To find out more, visit www.snam.it

For further information: ufficio.stampa@snam.it

Jack Cowell
Global Infrastructure Partners
212 315 8133
Jack.Cowell@global-infra.com