WARRENVILLE, Ill.--(BUSINESS WIRE)--
Navistar Financial Corporation (NFC), an affiliate of Navistar
International Corporation (NYSE: NAV), has completed the sale of $120
million of asset-backed notes in a privately funded transaction with one
of NFC's relationship banks.
This is NFC's first retail securitization in calendar-year 2011,
continuing NFC's initiative to reduce debt costs and build liquidity.
"We continue to take advantage of the lower interest rates and more
attractive funding structures available under current market
conditions," said David Johanneson, president and CEO of NFC.
Going forward, NFC will continue to facilitate the majority of customer
finance needs through Navistar Capital, its retail program formed last
year in alliance with GE Capital.
Navistar International Corporation (NYSE: NAV) 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. 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 and
depend on a number of factors. 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. 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 International Corporation
Media contact: Roy Wiley,
630-753-2627
Investor contact: Heather Kos, 630-753-2406
Web
site: www.Navistar.com/newsroom
Source: Navistar
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