WARRENVILLE, Ill.--(BUSINESS WIRE)--
Navistar Financial Corporation (NFC), an affiliate of Navistar
International Corporation (NYSE: NAV), has signed a new one-year, $100
million retail accounts funding facility. This facility is used to
support the purchase of fleet account trade receivables, creating
additional liquidity NFC. The liquidity is provided by one of Navistar
Financial's relationship banks.
"Consistent with improvements in capital markets, NFC has executed a
number of successful transactions in recent months," said David
Johanneson, President and CEO of NFC. "We are taking advantage of the
improvements in capital market conditions to reduce debt costs, enhance
our liquidity and increase our income potential."
NFC provides financial programs and services tailored to satisfy
Navistar's dealer and customer equipment financing needs. NFC's alliance
partner, GE Capital, will continue to provide the majority of customer
financing through the Navistar Capital retail program, which was formed
last year.
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
and www.NavistarFinancial.com.
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. 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: Roy Wiley 630-753-2627
Investor
contact: Heather Kos 630-753-2406
Web site: www.Navistar.com/newsroom
Source: Navistar
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