WARRENVILLE, Ill., Dec 16, 2009 (BUSINESS WIRE) -- Navistar Financial Corporation (NFC), a wholly owned subsidiary of
Navistar International Corporation (NYSE: NAV),has successfully
refinanced its bank credit facility with a new three-year revolving
credit facility and term loan totaling $815 million. In conjunction with
this refinancing, Navistar Financial has also completed a private retail
asset sale and secured loan, which generated proceeds of $304 million.
"These initiatives complete our 2009 refinancing actions," said David
Johanneson, president and chief executive officer of Navistar Financial.
"As the economic recovery continues, we continue to take aggressive
action to ensure liquidity and to seek the most cost-effective financing
solutions for our dealers and customers to support the profitable growth
of Navistar."
Navistar International Corporation is a holding company whose
subsidiaries and affiliates produce International(R) brand commercial and
military trucks, MaxxForce(R) brand diesel engines, IC Bus(TM) brand school
and commercial buses, Monaco RV brands of recreational vehicles, and
Workhorse(R) 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 Statements
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 "Risk Factors" as set forth in
the Prospectus Supplement, dated October 22, 2009, filed pursuant to
Rule 424(b)(5) with respect to the Registration Statement No.
333-162588. 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.
SOURCE: Navistar International Corporation
Navistar International Corporation
Media contact: Roy Wiley, 630-753-2627
Investor contact: Heather Kos, 630-753-2406
Web site: www.Navistar.com/newsroom
Copyright Business Wire 2009