Navistar Financial Renews Bank Facility
WARRENVILLE, Ill.--(BUSINESS WIRE)--
Navistar Financial Corporation (NFC), an affiliate of Navistar
International Corporation (NYSE: NAV), has successfully
refinanced its bank credit facility with a five-year revolving credit
line and term loan totaling $840 million. Earlier this quarter, NFC
successfully sold $224 million of wholesale floor plan notes.
"This deal, in combination with our recently completed wholesale
financing, ensures sufficient liquidity to support the sale of Navistar
products," said David Johanneson, president and chief executive officer
of NFC. "Our ability to continue to access competitive financing
reflects the confidence of banks and other investors in Navistar's
strategy."
Navistar International Corporation is a holding company whose
subsidiaries and affiliates produce International® brand commercial and
military trucks, MaxxForce® brand diesel engines, IC Bus™ brand school
and commercial buses, Monaco® RV brands of recreational vehicles, and
Workhorse® brand chassis for motor homes and step vans. It also is a
private-label designer and manufacturer of diesel engines for the pickup
truck, van and SUV markets. The company also provides truck and diesel
engine service parts. Navistar Financial Corporation provides financial
programs and services tailored to satisfy all Navistar's customer and
dealer equipment financing needs. Additional information is available at www.Navistar.com/newsroom.
Forward-Looking Statement
Information provided and statements contained in this report that are
not purely historical are forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, Section 21E of
the Securities Exchange Act of 1934, as amended, and the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements only speak as of the date of this report and the company
assumes no obligation to update the information included in this report.
Such forward-looking statements include information concerning our
possible or assumed future results of operations, including descriptions
of our business strategy. These statements often include words such as
"believe," "expect," "anticipate," "intend," "plan," "estimate," or
similar expressions. These statements are not guarantees of performance
or results and they involve risks, uncertainties, and assumptions. For a
further description of these factors, see Item 1A, Risk Factors of our
Form 10-K for the fiscal year ended October 31, 2010, which was filed on
December 21, 2010 , and Part II, Item 1A, Risk Factors, included within
our Form 10-Q for the period ended July 31, 2011, which was filed on
September 7, 2011. Although we believe that these forward-looking
statements are based on reasonable assumptions, there are many factors
that could affect our actual financial results or results of operations
and could cause actual results to differ materially from those in the
forward-looking statements. All future written and oral forward-looking
statements by us or persons acting on our behalf are expressly qualified
in their entirety by the cautionary statements contained or referred to
above. Except for our ongoing obligations to disclose material
information as required by the federal securities laws, we do not have
any obligations or intention to release publicly any revisions to any
forward-looking statements to reflect events or circumstances in the
future or to reflect the occurrence of unanticipated events.
Navistar
Media contact:
Sara Mee, 630-753-4101
or
Investor
contact:
Heather Kos, 630-753-2406
Web site: www.Navistar.com/newsroom
Source: Navistar
News Provided by Acquire Media
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