CNH Industrial N.V. (NYSE: CNHI / MI: CNHI) today announced that its indirect wholly owned subsidiary, CNH Industrial Capital Canada Ltd., has priced CAD$ 300 million in aggregate principal amount of 1.50% notes due October 1, 2024, with an issue price of 99.936%. The notes are being offered on a private placement basis to certain accredited investors in each of the provinces of Canada, which offering is expected to close on September 28, 2021, subject to the satisfaction of customary closing conditions.
CNH Industrial Capital Canada Ltd. 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 Canada Ltd.’s indebtedness as it becomes due.
The notes, which are senior unsecured obligations of CNH Industrial Capital Canada Ltd., will pay interest semi-annually on April 1 and October 1 of each year, beginning on April 1, 2022, and will be guaranteed by CNH Industrial Capital LLC, CNH Industrial Capital America LLC and New Holland Credit Company, LLC, each an indirect wholly owned subsidiary of CNH Industrial N.V.
The securities offered in the private placement have not been and will not be qualified for sale to the public under applicable securities laws in Canada and, accordingly, any offer and sale of the securities in Canada will be made on a basis which is exempt from the prospectus requirements of such securities laws.
The securities offered in the private placement have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or applicable state securities laws. Accordingly, the securities may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.
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. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.
Myanmar’s junta has destroyed the country’s economy, education, health, and social protection systems and led it to the brink of collapse, the United Nations said Thursday in a report detailing a litany of rights violations by the military that could amount to war crimes and crimes against humanity.
The report, compiled by the Office of U.N. High Commissioner for Human Rights (OHCHR) and, documents how security forces have killed, imprisoned, tortured and denied various rights to the people of Myanmar from the military’s Feb. 1 coup d’état until mid-July, and is based on interviews with more than 70 victims and witnesses.
“The coup has evolved into a human rights catastrophe that shows no signs of abating,” the OHCHR said in its report, released for the 48th regular session of the U.N. Human Rights Council taking place from Sept. 13 to Oct. 8.
“For this reason, the international accountability efforts that have been supported by the Human Rights Council must be pursued and enhanced … Member States must act urgently to prevent a further disintegration of Myanmar into a nationwide armed conflict or state collapse.”
In a statement accompanying the report, U.N. High Commissioner for Human Rights Michelle Bachelet called on the international community, including the 11-member Association of Southeast Asian Nations (ASEAN), to ensure that the situation does not spiral out of control.
“There is no sign of any efforts by the military authorities to stop these violations nor implement previous recommendations to tackle impunity and security sector reform,” she said.
“This underscores the urgent need for strong accountability measures. It also runs in the face of commitments made to ASEAN leaders to cease the violence and begin a constructive dialogue among all parties.”
Myanmar’s military has attempted to justify its overthrow of the democratically elected National League for Democracy (NLD) government by claiming the party had stolen the country’s November 2020 ballot through voter fraud.
The junta has yet to provide evidence of its claims and has violently repressed anti-coup protests, killing at least 1,121 people and arresting 6,718 others, according to the Bangkok-based Assistance Association for Political Prisoners (AAPP).
In April ASEAN leaders agreed to a “five-point consensus” that would see the junta end violence in the country and enter into dialogue to find a peaceful solution to the country’s political crisis, however few measures have been implemented and the military has instead ramped up a crackdown on its opponents.
This handout received courtesy of an anonymous source on Sept. 18, 2021 shows people attempting to extinguish a fire as houses burn in Magway division, Sept. 10, 2021. AFP
Litany of abuses
The U.N. report documented at least 50 detention-related deaths up to mid-July and spoke with family members who—if permitted to see the bodies of their loved ones prior to disposal—reported visible signs of injuries to victims, including bruising, broken noses and ribs, head injuries, sewn-up incisions, and burn marks. In many cases, families received no information about medical examinations or investigations into causes of death.
Children have been subject to arbitrary detention and processed through military interrogation centers, the U.N. said, while also allegedly subjected to torture and ill-treatment in custody.
The report said that the military’s “four cuts” strategy of cutting off its enemies’ access to funding, food, intelligence and recruits violates “a range of human rights as well as international humanitarian law” in certain situations, including by launching punitive reprisals against communities following skirmishes with People’s Defense Force (PDF) militias or during searches, which led to killings or injuries and forced displacement.
In one example, in late May, the military responded to the takeover of several police stations and bases by a joint force of PDFs and ethnic armed organizations (EAOs) in Kayah state and southern Shan state with heavy weapons and airstrikes in populated areas, resulting in more than 55 reported civilian deaths. Remains found after fighting subsided in June included 22 bodies exhibiting signs of execution, the report said.
The U.N. also documented a rise in criminality, targeted killings and use of explosive devices by unidentified actors between February and July, including more than 130 deaths from shootings and stabbings since May alone. It said a majority of those targeted were said to have been current or former area administrators or suspected military informants.
The junta’s actions have taken place against the backdrop of a decimated healthcare sector struggling with a deadly outbreak of COVID-19 that has killed 17,266 people and infected nearly 452,000, as well as a growing loss of investor confidence that has crushed the country’s economy.
The U.N. found that by April, around 200,000 garment workers—predominantly women—had reportedly lost employment, as did as many as 400,000 construction workers.
Health facilities, personnel, transport, and supplies have been subject to direct attacks by security forces, the report said, with the World Health Organization (WHO) recording 248 incidents between Feb. 1 and the end of June.
The report concludes that the numerous human rights violations and abuses, as well as violations of international humanitarian law, “may amount to war crimes … [and] crimes against humanity.”
“The national consequences are terrible and tragic—the regional consequences could also be profound,” Bachelet said of the report’s findings.
“The international community must redouble its efforts to restore democracy and prevent wider conflict before it is too late.”
Attempts by RFA’s Myanmar Service to contact the office of the junta’s spokesperson for comment on the report’s findings went unanswered Thursday.
Protesters hold up a three-finger salute during a demonstration against the military coup in Yangon, July 11, 2021. AFP
Tougher approach taken
Aung Myo Min, the NUG’s Human Rights Minister, applauded what he said was a much tougher approach by the U.N. to hold the junta accountable for its actions.
“This time, her report covered more serious crimes, such as crimes committed during the armed conflicts and human rights violations such as extrajudicial killings,” he told RFA.
In July, Bachelet had called for international pressure to end the violence in Myanmar, but her office did not equate the rights violations in the country to war crimes and crimes against humanity.
Phil Robertson, deputy Asia director for New York-based Human Rights Watch, told RFA that the report made it “quite clear” that “crimes against humanity are taking place again in Myanmar and that ultimately the situation is sliding backwards to a worst-case scenario.”
“They’re finding not only that there’s excessive use of force and deadly force against protesters but also systematic use of torture and abuses. And she is trying to sound the alarm to the international community to say, ‘look, something has to stop here’ … because the situation is so bad in Myanmar that we are now facing a human rights crisis of major proportions.”
While Western countries, including the U.S., have leveled sanctions against the junta for its actions, observers have called for stronger measures, such as an arms embargo.
Robertson said the report now puts the onus on the international community to move forward with “comprehensive sanctions” and other actions he said would force the junta to end its repression of the people of Myanmar.
“We do need them to redouble efforts,” he said.
“That is quite clear, and she is making the correct call by demanding that the big question is whether the international community will do so.”
Reported by RFA’s Myanmar Service. Translated by Kyaw Min Htun. Written in English by Joshua Lipes.
TOKYO, The ASEAN-Japan Centre (AJC) is pleased to announce the appointment of Mr. Kunihiko Hirabayashi as the Secretary General of the AJC in Tokyo as of September 1, 2021.
Heavy rain continues to hit several parts of Sulawesi Island (central Indonesia), causing floods, triggering landslides and leading to casualties and damage.
According to the ASEAN Disaster Information Network (ADINet), more than 460 people have been displaced, and approximately 7,200 people have been affected across the Provinces of North, South and Southeast Sulawesi, and Gorontalo.
For the next 24 hours, light rain is forecast across most of Sulawesi.
Source: European Commission’s Directorate-General for European Civil Protection and Humanitarian Aid Operations
UNITED NATIONS, NEW YORK, 24 September 2021 – Foreign Affairs Secretary Teodoro L. Locsin, Jr. and North Macedonia’s Minister of Foreign Affairs Bujar Osmani signed the joint communique concerning the establishment of diplomatic relations between the Philippines and North Macedonia at the sidelines of the 76th session of the UN General Assembly.
Secretary Locsin expressed confidence that “this will be the start of a strengthened engagement between our two countries and close cooperation not only bilaterally but also in the multilateral arena.”
Minister Osmani stressed that with the main transport corridors passing through the country, North Macedonia is becoming a hub for investment in the region.
The two ministers also discussed mutually beneficial agreement and cooperation in fields of mutual interest, including trade and investment, tourism and culture, and education.
This historic signing was witnessed by diplomatic representatives from both countries, including the Philippines’ Permanent Representative Enrique A. Manalo and North Macedonia’s Chargé d’ affaires a.i. Dushko Uzunovski.
Source: Republic of Philippines Department Of Foreign Affairs
