WARRENVILLE, Ill. — Navistar Financial Corp. (NFC), a wholly owned subsidiary of Navistar International, 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 Corp. 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 provides financial programs and services tailored to satisfy all Navistar’s customer and dealer equipment financing needs.
